Asset icon - trade crypto, stocks, and gold on Pluang
Trade on Pluang
One platform for all markets
Download

Bitcoin plunges 16% as $15B futures sell-off on Binance triggers sharp market drop

Market News
08 Jun 2026
Blockonomi
View Source
Bearish
pluang ai news

Bitcoin fell 16% this week, driven mainly by aggressive futures selling on Binance, which saw nearly $15 billion in sell volume on Friday alone. This heavy derivatives selling, combined with $1.75 billion in spot Bitcoin ETF outflows—the worst since April 2025—intensified market volatility and pressured prices. Analyst Astronomer challenged bearish views tied to the four-year cycle, suggesting Bitcoin's macro bottom could hold between $60,000 and $80,000, similar to gold's cycle pattern. The near-term outlook hinges on futures market activity and whether this capitulation signals a trend reversal or continued weakness.

More News (BTC)

Bitcoin holds above $63,000 after rally, nearing key 200-week moving average signaling potential cycle shift.

Bitcoin holds above $63,000 after rally, nearing key 200-week moving average signaling potential cycle shift.

Bitcoin maintained its price above $63,000 following a 4% rally on Sunday, driven by Michael Saylor's hint at further purchases. The cryptocurrency is trading near its 200-week moving average, a critical level historically marking major market cycle ...

Market News
Neutral
5 hours ago
Gold falls below 200-day average, enters bear market amid strong US jobs data and Fed rate hike bets.

Gold falls below 200-day average, enters bear market amid strong US jobs data and Fed rate hike bets.

Gold prices have dropped over 20% from their January peak, falling below the 200-day moving average for the first time since October 2023. This decline follows a strong US jobs report that increased expectations for a Federal Reserve rate hike, pushi...

Market News
Neutral
6 hours ago
Bitcoin plunges 50% amid Middle East conflict, SpaceX IPO liquidity drain, and massive liquidations.

Bitcoin plunges 50% amid Middle East conflict, SpaceX IPO liquidity drain, and massive liquidations.

Bitcoin has dropped 50% from nearly $120,000 to $60,000 due to a combination of the Iran-Israel war, the upcoming SpaceX IPO draining liquidity, and forced liquidations in derivatives markets. This selloff wiped out trillions in crypto value and trig...

Market News
Bearish
6 hours ago
Bitcoin faces key test after breaking support; short bounce possible but deeper drop toward $39K looms.

Bitcoin faces key test after breaking support; short bounce possible but deeper drop toward $39K looms.

Bitcoin recently fell below a key channel support, prompting mixed analyst views on its next move. Some charts suggest a short-term bounce between $67,000 and $77,000, but this may be a temporary correction before a larger decline toward $39,000 or e...

Technical Signals
Bearish
6 hours ago
Crypto prices fall as tech stocks soar amid US-Iran war, challenging Bitcoin's 'digital gold' status.

Crypto prices fall as tech stocks soar amid US-Iran war, challenging Bitcoin's 'digital gold' status.

Since the US-Iran conflict began, tech stocks like the Nasdaq 100 have surged over 20%, while major cryptocurrencies such as Bitcoin and Ethereum have declined, with Ethereum dropping 13%. This divergence highlights that crypto is not acting as a saf...

Market News
Bearish
7 hours ago
banner-footerbanner-footer

Invest & Trade with
#1 Award-Winning Investment Super App