BTC drops sharply in 15 minutes by 0.76%: the $60,000 psychological level is breached, triggering a leverage cascade and a technical breakdown resonance

Between 18:15 and 18:30 UTC on June 5, 2026, the BTC/USDT price fell from 60,657.2 USDT to 60,103.7 USDT. In 15 minutes, it recorded a -0.76% return, with a range of 0.91%. Near the 60,000 USDT psychological level, bulls and bears were fiercely fighting. The main driver behind this move was liquidation triggered by programmatic trading stop-loss after a key technical support level was breached, along with leveraged long liquidations. After BTC broke below the $63,913 TBO support level on June 4, the trend-following strategy continued to release sell pressure; combined with forced liquidation of accumulated leveraged long positions around the 60,000 integer level, it resulted in a sharp drop in the short term.

In addition, market liquidity has been severely drained after four consecutive weeks of selling, so even a small number of sell orders can create a significant price impact. At the institutional level, persistent negative signals continue to weigh on market sentiment—Strategy sold 32 BTC for the first time since December 2022, breaking the “only buy, never sell” narrative; U.S. spot Bitcoin ETFs have recorded net outflows for 11 straight trading days, with cumulative withdrawals of $3.5 billion. On the macro front, the lack of progress in the Iran-Iraq conflict has put broad pressure on risk assets; the U.S. 10-year Treasury yield has risen above 4.5%, further tightening liquidity. Multiple factors converging have amplified volatility.

Currently, the RSI on the daily chart is in a deeply oversold region at 7.69, suggesting an increased probability of a short-term rebound, but without an improvement in fundamentals, it is difficult to form a reversal. If the 60,000 level is breached, the next support to watch is around $49,000. Pay close attention to June 6’s Non-Farm Payrolls data—if the data reinforces expectations for rate cuts, it may ease selling pressure. It is also recommended to monitor on-chain fund flows and changes in ETF flows to judge the next market direction.