Bitcoin rebounds but remains under pressure, trading near $62,614 after crashing to a 2026 low of $59,100 as stronger US jobs data fueled expectations of higher interest rates.
Market sentiment stays fragile, with $1.7 billion in crypto liquidations, a record 13-day Bitcoin ETF outflow streak totaling $4.33 billion, and the Fear & Greed Index remaining in extreme fear.
Long-term catalysts are emerging, including a Senate push to ease Bitcoin bank capital rules and new ETF products, while traders watch the Fed meeting and the critical $60K–$65K BTC range.
June opens with crypto markets in damage-control mode. Bitcoin tumbled to a 2026 low of $59,100 last week before stabilizing near $62,614 heading into Monday. The selloff was broad, fast, and macro-driven. A hotter-than-expected US nonfarm payrolls report hit on June 5. It was the strongest jobs reading in 18 months. Rate cut bets collapsed overnight. Rate hike bets took their place.
The ripple effects landed hard across digital assets. Over $1.7 billion in crypto positions were liquidated in 24 hours. The Nasdaq 100 posted its worst session since Liberation Day.
Bitcoin dominance holds near 58.10%, and the global crypto market cap sits around $2.18 trillion. The Fear and Greed Index remains deep in extreme fear, reflecting how far sentiment has shifted from April's institutional-inflow highs.
Bitcoin is trading at $62,614.85, up 1.00% in 24 hours. The 7-day chart still reflects a 14.66% drawdown. Market cap stands at $1.25 trillion. The 24-hour volume registers $37.01 billion, signaling active participation at this recovery level.
The chart shows BTC trading firmly below all key moving averages. Immediate resistance sits between $64,500 and $65,000. A sustained close above that zone is required to stabilize short-term momentum. On the downside, $60,000 is the first critical support. A break there opens a path toward $57,500, which analysts identify as the next meaningful demand zone.
Akshat Siddhant, Lead Quant Analyst, Mudrex, stated, "Bitcoin is stabilizing around the $63,000 level after rebounding from a recent low of $59,100, triggered by stronger-than-expected US jobs data. The robust labor market reinforced expectations that the Federal Reserve may keep monetary policy restrictive for longer, leading to weakness across risk assets."
He added, "Bitcoin's daily RSI touched around 15.5, its most oversold reading since the March 2020 crash. Historically, similar RSI levels in 2020 and in February were followed by rebounds of 50% and 30%, respectively. If the same trend holds, Bitcoin could target the $80,000 zone in the coming weeks. Holding above $60,000 remains critical, as $55,000 is the next major support level below."
WazirX Market's Desk observed, "Bitcoin is trading near $63,041, remaining under pressure as it trades below key moving averages. Oversold technical conditions, dip-buying, and continued long-term accumulation are keeping participants focused on recovery signals. On the regulatory front, six US senators have called for changes to bank capital rules for Bitcoin. The move could improve traditional institutions' access to digital assets."
Also Read: How Hedge Funds, Banks, and Asset Managers are Entering Crypto
Based on CoinMarketCap data as of June 8, here are the crypto prices updates for today:
| Name | Price | 24h % | Market Cap | Volume (24h) |
|---|---|---|---|---|
| Bitcoin (BTC) | $62,614.85 | 0.01 | $1,254,744,446,413 | $37,013,627,578 |
| Ethereum (ETH) | $1,651.81 | 0.0281 | $199,348,393,658 | $16,731,908,853 |
| Tether (USDT) | $0.9998 | 0.0002 | $186,928,562,945 | $72,813,409,015 |
| BNB (BNB) | $594.16 | 0.0171 | $80,083,735,057 | $1,303,329,494 |
| USDC (USDC) | $0.9998 | 0.00% | $75,635,473,768 | $11,073,124,675 |
| XRP (XRP) | $1.13 | 0.0135 | $70,626,427,041 | $2,187,693,330 |
| Solana (SOL) | $65.31 | 0.0159 | $37,838,201,011 | $2,710,604,020 |
| TRON (TRX) | $0.3269 | 0.0069 | $31,003,468,502 | $521,079,570 |
| Hyperliquid (HYPE) | $60.92 | 0.023 | $15,461,603,844 | $771,973,478 |
| Dogecoin (DOGE) | $0.08481 | 0.0101 | $13,109,450,569 | $835,814,682 |
Biggest Gainers: Ethereum, Hyperliquid, BNB
Ethereum led with a 2.81% gain, trading at $1,651.81 on active volume. Some short-covering emerged after its worst week of the year. Hyperliquid posted a 2.30% advance, extending a strong 7-day return of 17.30% on the back of persistent perpetual futures volume.
BNB added 1.71%, holding above $594 as Binance ecosystem activity continues drawing capital in a risk-off environment.
Biggest Losers: TRON, DOGE, XRP
TRON recorded the smallest gain at 0.69%, effectively lagging the broader recovery despite consistently high stablecoin transfer volumes. Dogecoin's 1.01% uptick offered little relief after a brutal 7-day decline of 15.43%, as speculative capital rotates away from meme assets.
XRP moved up 1.35%, the most modest recovery among the larger altcoins, still weighed by its 7-day drop of 13.69% and a technical structure that needs significant repair.
Top headlines impacting crypto prices today.
Bitcoin fell to $59,100 on June 5, its lowest level since late 2024. The trigger was a US nonfarm payrolls reading 18 months above any prior print. Rate cut expectations evaporated. Polymarket moved the probability of a Fed rate hike before year-end to 52%.
CME FedWatch placed the odds at 42.7% for higher rates by December. BNP Paribas scrapped its stable-rate forecast entirely, projecting three Fed hikes starting in December.
Total crypto liquidations reached $1.7 billion in 24 hours. Bitcoin absorbed $534 million of that. Ether took another $423 million. The Nasdaq 100 fell 5%, its worst session since Liberation Day, dragging crypto directly alongside equities.
US spot Bitcoin ETFs extended their outflow streak to 13 consecutive sessions as of June 5. Total withdrawals across the streak reached $4.33 billion, erasing all year-to-date inflows and pushing cumulative flows into negative territory for the first time since early in the year.
Galaxy Research noted the 7-day and 10-day trailing windows each set new records for outflows measured in coin terms, at 39,338 BTC and 42,941 BTC, respectively.
Citi analysts estimate spot ETF flows account for roughly 45% of weekly BTC price moves. A single net-inflow session on June 5 itself offered the first tentative sign of institutional dip-buying emerging at the margin.
Six Republican senators formally wrote to US bank regulators challenging the Basel Committee's 1250% risk weight applied to Bitcoin held on bank balance sheets. The rule makes bank participation in Bitcoin economically unviable, effectively acting as a de facto ban on direct holdings.
Senators argued for a framework with lower risk weights in the 100% to 300% range, aligning Bitcoin with other regulated asset classes. The OCC, FDIC, and Federal Reserve addressed custody guidance earlier this year but left capital treatment unresolved. A favorable outcome could structurally expand institutional access and long-term demand for digital assets.
SpaceX is scheduled to price its IPO on June 12 at $135 per share, targeting a $75 billion raise and a $1.75 trillion valuation. The event carries direct implications for crypto markets.
SpaceX competes for the same risk-on investment dollars as digital assets. Analysts have flagged the IPO as a near-term liquidity headwind for Bitcoin, with capital rotation toward the offering already cited as one factor in the recent selloff.
Over the longer term, SpaceX's balance sheet includes Bitcoin exposure, and its public listing could introduce a new category of indirect crypto-linked equity to institutional portfolios.
Asset manager 7RCC launched BTCK, its ESG-focused Bitcoin ETF, on NYSE on June 5. The product allocates 80% to Bitcoin exposure and 20% to carbon credit futures, offering institutional investors a regulated vehicle that pairs digital asset access with environmental compliance.
The launch extends the growing range of regulated Bitcoin investment products available to traditional investors, adding structural support to long-term adoption narratives even during a period of heavy short-term outflows.
Also Read: The Role of Regulation in Accelerating Institutional Crypto Investment
Bitcoin holds near $62,614 after its worst weekly performance of the year. The short-term technical bias remains negative. BTC trades below all key moving averages. A sustained close above $65,000 on meaningful volume is the first threshold for any credible momentum recovery. A break below $60,000 reopens the path toward $57,500.
Two distinct forces are pulling in opposite directions. The bearish side is heavier near-term. A record 13-session ETF outflow streak, rate hike odds above 50%, over $1.7 billion in liquidations, and the SpaceX IPO drawing capital away from risk assets all press against upside. The structural side carries longer-horizon weight.
The daily RSI touched its most oversold reading since March 2020. Long-term on-chain accumulation continues. The Senate's capital rules challenge is a meaningful regulatory step. The SpaceX listing may also introduce Bitcoin-linked equity exposure to new institutional audiences post-IPO.
The market needs two things clearly: a sustained turn in ETF flows, and macro clarity from the Federal Reserve. New Fed Chair Kevin Warsh chairs his first policy meeting on June 16-17. That meeting is the next major catalyst. Until then, the $60,000 to $65,000 range defines the trade for Bitcoin.
1. Why is Bitcoin under pressure this week?
Bitcoin fell to a 2026 low of $59,100 on June 5 after the strongest US jobs report in 18 months revived Federal Reserve rate hike expectations. Over $1.7 billion in crypto positions were liquidated in 24 hours. A record 13-session ETF outflow streak totaling $4.33 billion added sustained selling pressure throughout the week.
2. What is the biggest crypto news today?
The record 13-session Bitcoin ETF outflow streak and the six senators' formal challenge to Basel's 1250% capital rule for Bitcoin are the key stories. SpaceX pricing its $75 billion IPO on June 12 is the primary macro event the market is tracking for near-term liquidity impact.
3. What is the Bitcoin price today?
Bitcoin is trading at $62,614.85, up 1.00% in 24 hours. Market cap stands at $1.25 trillion. The 24-hour trading volume is $37.01 billion. Key support sits at $60,000 and $57,500, with resistance between $64,500 and $65,000.
4. Which coins are outperforming today?
Ethereum leads with a 2.81% gain, recovering from oversold RSI levels. Hyperliquid is up 2.30%, maintaining its strong 7-day momentum of 17.30%. BNB is up 1.71%, supported by continued Binance ecosystem capital flows even in a broadly risk-off session.
5. What does the RSI reading signal for Bitcoin?
Bitcoin's daily RSI hit approximately 15.5 during the June 5 crash, matching the most oversold reading since March 2020. Similar readings in 2020 and early 2026 preceded rebounds of 50% and 30% respectively. Analysts note selling pressure may be approaching exhaustion, though a clear recovery signal requires a close above $65,000 first.
Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. The cryptocurrencies mentioned on this website could be potentially risky, i.e., designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments.
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be risky, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.