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Bitcoin drops below $60K for first time since 2024 amid massive crypto sell-off

Market News
05 Jun 2026
UToday
View Source
Bearish
pluang ai news

Bitcoin fell below $60,000 for the first time since 2024, breaking its 200-week moving average and triggering a wave of liquidations worth nearly $1.6 billion in 24 hours. Most losses hit retail investors, especially on Binance, where a $13.31 million Bitcoin trade was liquidated. Funding rates have turned negative, signaling waning dip-buying interest and potential for a relief rally. Analysts predict Bitcoin could drop to around $30,000 if 2026 follows previous major down years' patterns.

More News (BTC)

Ether jumps 11% as BlackRock's spot ETFs attract $96M, outpacing Bitcoin's 4% gain this week

Ether jumps 11% as BlackRock's spot ETFs attract $96M, outpacing Bitcoin's 4% gain this week

Ether has surged about 11% over the past week, outperforming other major cryptocurrencies like Bitcoin, which rose 4%. This rise is driven by $96 million inflows into U.S. spot ether ETFs, mainly BlackRock’s low-fee funds, while Grayscale’s higher-fe...

Market News
Bullish
4 hours ago
Bitcoin nears $65K as U.S. inflation cools, but key investors sell amid uncertain rally.

Bitcoin nears $65K as U.S. inflation cools, but key investors sell amid uncertain rally.

Bitcoin's price surged to nearly $65,000 following softer-than-expected U.S. inflation data for June, easing fears of Federal Reserve rate hikes. However, on-chain data reveals two main groups of investors—long-term holders who bought near last year'...

Technical Signals
Neutral
5 hours ago
Ethereum futures long positions rise sharply, signaling growing trader focus and potential volatility.

Ethereum futures long positions rise sharply, signaling growing trader focus and potential volatility.

Ethereum futures long positions among top traders increased by over 3 percentage points across both USDT- and coin-margined markets, indicating a broad-based shift in short-term sentiment. This rise suggests heightened attention on ETH compared to ot...

Technical Signals
Bullish
5 hours ago
Bitcoin steadies near $65,500 as Ethereum breaks $1,900 amid soft inflation and market caution.

Bitcoin steadies near $65,500 as Ethereum breaks $1,900 amid soft inflation and market caution.

Bitcoin held steady around $65,500 while Ethereum surpassed $1,900 for the first time since February, amid softer-than-expected inflation data that boosted stock markets. Despite geopolitical tensions with Iran, investors showed cautious optimism, wi...

Market News
Neutral
7 hours ago
Bitcoin, Ethereum, and Zcash show strong recovery signs while XRP struggles to break resistance levels.

Bitcoin, Ethereum, and Zcash show strong recovery signs while XRP struggles to break resistance levels.

Bitcoin is recovering after a long downtrend, stabilizing around $65,000 and aiming to break key resistance levels at $68,500 and $74,500. Ethereum is performing better, approaching its 100-day EMA resistance near $1,944 with strong buying momentum. ...

Technical Signals
Bullish
9 hours ago
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