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Bitcoin fell 3.43% to $64,126 as $1.76 billion in liquidations, ETF outflows, and risk-off sentiment pushed the crypto market into Extreme Fear territory.
Key support lies at $62,000–$60,000, while Bitcoin must reclaim $70,000 to signal a meaningful recovery in market momentum.
Despite near-term weakness, the CLARITY Act, OTC Bitcoin accumulation, and institutional interest remain important medium-term bullish catalysts.
The crypto market is under renewed selling pressure amid extreme volatility. Bitcoin is trading at $64,126.48, down 3.43% in 24 hours. This extends a multi-week correction that has now erased over 11% from the coin's May peak.
Total crypto market cap sits near $2.29 trillion, down sharply on the week. Leveraged long positions continue to flush, with over $1.76 billion liquidated in the past 24 hours.
Sentiment has moved decisively into Extreme Fear territory. The Fear and Greed Index reads 23 out of 100. Bitcoin dominance holds near 57.98%. Capital is rotating toward equities, particularly as SpaceX's record IPO roadshow commands global attention. The Nasdaq 100 is hitting new highs while BTC sits 12% below its May levels.
Bitcoin is trading at $64,126.48, down 3.43% in 24 hours, fluctuating between $63,681 and $64,127. Market cap stands at $1.28 trillion. The 24-hour trading volume is $59.80 billion. The 7-day decline has deepened past 12%.
BTC trades firmly below key daily moving averages. Immediate resistance sits at $66,500, then $68,500. A daily close above $70,000 is the minimum needed to shift short-term momentum. On the downside, $62,000 is the first critical support. A breakdown there opens $60,000, which analysts widely treat as the next major demand zone.
Akshat Siddhant, Lead Quant Analyst, Mudrex, noted, "Bitcoin briefly touched the $61,000 mark as selling pressure from a large Mt. Gox wallet transfer and consistent spot Bitcoin ETF outflows converged with Strategy's first disclosed Bitcoin sale in three and a half years." The volatility triggered approximately $1.25 billion in leveraged liquidations within a 24-hour period, a majority of which were long positions.
He added, Today's attention turns to the US jobless claims data, the last major labour market read before Friday's nonfarm payrolls report, both of which will weigh on the US Fed's rate decision due later this month. Bitcoin currently rests at $64,000, which makes the $60,000 zone a critical support, while a sustained move above $70,000 would signal that buyers have regained control."
Riya Sehgal, Research Analyst, Delta Exchange, stated, "The latest crypto market selloff appears to be a result of multiple pressure points hitting the market at the same time. Bitcoin's sharp move toward the $61,000 to $63,000 zone and Ethereum's break below $1,800 reflect a strong risk-off phase. Nearly $1.76 billion in positions were liquidated in 24 hours, with over 284,000 traders impacted."
She further added, "BTC has lost the $65,000 to $66,000 support zone and is trading below its major 4-hour EMAs. A sustained break below $62,000 could expose $60,000. Recovery requires BTC to first reclaim $65,000, then push toward $68,000 to $70,000."
Also Read: How Bitcoin ETFs are Driving Institutional Crypto Adoption
Based on CoinMarketCap data as of June 4.
Biggest Losers: Solana, BNB, Bitcoin
Solana led the session with a 4.44% decline, slipping to $70.72 as broad risk-off selling hit high-beta assets hard. BNB fell 3.50% to $613.82, continuing its slide below the $630 support level. Bitcoin shed 3.43%, dragging the rest of the large-cap market lower.
Ethereum dropped 2.70% to $1,797.88, breaking below the psychologically significant $1,800 floor. XRP showed the strongest relative resilience among the majors, falling just 1.39% to $1.20. TRON held up best with a modest 0.39% decline, backed by steady stablecoin settlement volumes across its network.
Top headlines impacting crypto prices today.
SpaceX set its IPO price at $135 per share, targeting a $1.75 trillion valuation. The company is aiming to raise a record $75 billion on Nasdaq under the ticker SPCX. Buried in the filing is a detail every crypto investor should note: SpaceX holds 18,712 BTC on its balance sheet, worth approximately $1.29 billion as of March 31, making it one of the largest known corporate Bitcoin holders.
SpaceX's roadshow opened June 4, with pricing expected June 11 and Nasdaq trading targeting June 12. The $75 billion capital raise is drawing retail and institutional liquidity away from crypto into equities, adding short-term supply pressure on spot prices.
The CLARITY Act is nearing a final Senate decision, with June marked as the pivotal month for US crypto regulation. Senator Tim Scott and Galaxy CEO Mike Novogratz have framed the bill as positioning America as the world's crypto capital.
The White House is targeting a July 4 deadline for the bill to become law. Polymarket puts the odds of passage in 2026 at 59%. Standard Chartered projects $4 to $8 billion in new XRP ETF inflows post-passage. JPMorgan says the bill unlocks the full altcoin ETF pipeline for institutional capital.
Bitcoin ETFs have seen nearly $2 billion in combined withdrawals over the past week, pressuring sentiment. The outflow streak now spans over 11 consecutive sessions, the longest since these products launched. Bitcoin's recent decline reflects a combination of risk-off sentiment, ETF outflows, geopolitical uncertainty, and liquidations of leveraged positions across crypto markets.
Crypto market maker Wintermute reports that long-term funds are discreetly accumulating Bitcoin through OTC transactions, finding prices near $72,000 attractive for an 18-month outlook. Wintermute identifies the $60,000 to $65,000 zone as key support and views the current market as a reset phase rather than a breakdown.
This is a structural positive for the medium-term thesis, even as spot prices face near-term outflow-driven pressure.
Also Read: Crypto News Today: OFAC Sanctions Nobitex As Iran Crypto Crackdown Hits Exchanges
Bitcoin is holding on thin ground near $64,000. The structure below the daily moving averages keeps the short-term bias firmly bearish. A daily close above $70,000 on strong volume is needed to shift momentum. Failure to hold $62,000 opens $60,000 as the next floor.
The bear case is stacking. SpaceX's IPO pulling capital from crypto, record ETF outflows, $1.76 billion in 24-hour liquidations, and the Fear and Greed Index sitting at 23 all point to fragile near-term demand. Ethereum below $1,800 is watching $1,720 as the next meaningful support.
The structural case holds intact. The CLARITY Act moving toward a Senate floor vote is the strongest regulatory tailwind this cycle. OTC accumulation signals from Wintermute show sophisticated capital building positions quietly. HYPE's 29.80% 7-day gain confirms that selective strength persists even inside a broad correction.
The range between $62,000 and $70,000 defines this phase. A reversal in ETF flows and a CLARITY Act vote are the two catalysts the market needs. Until both arrive, disciplined position sizing and selective accumulation remain the most defensible posture.
1. Why is Bitcoin falling today?
Bitcoin is trading at $64,126.48, down 3.43% in 24 hours. SpaceX's $75 billion IPO roadshow opened today, pulling risk capital from crypto into equities. Spot ETF outflows have now stretched past 11 consecutive sessions. Over $1.76 billion in leveraged positions were liquidated in 24 hours. The Fear and Greed Index reads 23, signaling Extreme Fear.
2. What is the biggest crypto news today?
SpaceX's $75 billion IPO filing reveals an 18,712 BTC treasury, making it one of the largest corporate Bitcoin holders on record. The CLARITY Act is approaching a Senate floor vote with a July 4 signing deadline targeted by the White House. Wintermute's OTC accumulation report offers the primary structural counterbalance to short-term bearish price action.
3. What is the Bitcoin price today?
Bitcoin is trading at $64,126.48, down 3.43% in 24 hours. Market cap stands at $1.28 trillion. The 24-hour trading volume is $59.80 billion. Key support sits at $62,000 and $60,000, with resistance between $66,500 and $70,000.
4. What does SpaceX's IPO mean for Bitcoin?
SpaceX holds 18,712 BTC worth $1.29 billion as of March 31. Buying SPCX stock gives traditional investors passive Bitcoin exposure. The short-term risk is capital rotation: the $75 billion raise could divert retail and institutional funds away from crypto, adding spot price pressure.
5. What is the CLARITY Act, and why does it matter?
The CLARITY Act would formally define Bitcoin and Ethereum as non-securities, resolving the SEC-CFTC jurisdictional dispute over digital assets. The White House targets a July 4 signing. Standard Chartered projects $4 to $8 billion in new XRP ETF inflows upon passage. JPMorgan says the bill unlocks the entire altcoin ETF pipeline for institutional allocation.
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.
