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Bitcoin drops below $62,000 amid $1.5B crypto liquidations and ETF outflows streak.

Market News
04 Jun 2026
Unchained
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Bearish
Bitcoin drops below $62,000 amid $1.5B crypto liquidations and ETF outflows streak.

Bitcoin fell below $62,000, reaching its lowest level since before the U.S.-Iran conflict started, as $1.5 billion in crypto longs were liquidated. This decline erased gains from earlier in the year and marked a 50% drop from Bitcoin's October 2025 peak of around $126,000. Spot Bitcoin ETFs experienced their 11th straight day of outflows, totaling about $3.83 billion since May, reducing assets under management from $108 billion to $82 billion. The market volatility increased sharply, signaling a shift from two months of calm, while institutional investors showed signs of retreat, highlighted by MicroStrategy's symbolic Bitcoin sale. This downturn contrasts with rising oil prices, a stronger dollar, and a bullish stock market driven by AI optimism, indicating a complex macroeconomic environment for Bitcoin.

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