Bitcoin price has fallen below $60,000 today, extending its 10-day decline to about $19,000 as selling pressure accelerated across the crypto market. More than $155 million in crypto long positions were liquidated within 60 minutes and $1.5 billion in the last 24 hours, adding to volatility as $BTC moved below the key $60,000 support area.
Bitcoin price has fallen below $60,000 after a stronger-than-expected U.S. jobs report prompted traders to scale back expectations for Federal Reserve rate cuts and price in a higher probability of policy tightening later this year. According to data from crypto.news, Bitcoin ($BTC) price fell to an intraday low of around $59,100 on June 5 before
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Bitcoin briefly dropped below the critical $60,000 mark on Binance on June 5, marking the pioneer crypto’s first break beneath that level since October 2024. The move comes amid a broader risk-off selloff across financial markets, as investors react to strong U.S. employment data, persistent fund outflows, and growing concerns over liquidity conditions. Bitcoin Price
To figure out whether the market has bottomed, it really comes down to who’s in control right now: conviction or capitulation. Currently, both technicals and on-chain data are starting to line up. From a technical standpoint, Bitcoin is down roughly 16% this week, which has clearly triggered a wave of FUD, with price now testing
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Bloomberg Intelligence senior commodities strategist Mike McGlone noted Bitcoin’s recent weak performance compared to equity markets and warned investors about potential risks. According to McGlone, the key question for Bitcoin is what will halt its downward trend. McGlone noted that Bitcoin and the S&P 500 index’s 200-day moving averages have long exhibited a similar pattern.