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Bitcoin falls below $63,000 amid heavy selloff and $1.6B liquidations, testing key support levels.

Market News
04 Jun 2026
Crypto news
View Source
Bearish
pluang ai news

Bitcoin dropped below $63,000, marking its weakest level since February, as a deep selloff erased about 16% of its value in a week. Over $1.6 billion in leveraged crypto positions were liquidated, intensifying market pressure amid renewed geopolitical tensions between the U.S. and Iran. Analysts are closely watching support levels at $60,000, $55,000, and $50,000, with technical indicators showing Bitcoin is deeply oversold but still bearish. The coming weeks are critical to determine if Bitcoin can stabilize or if further declines will occur.

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