Bitcoin price USD has fallen below $61,000 as a sharp market selloff intensified across the cryptocurrency sector, marking a steep decline from levels above $71,000 at the start of June.
Quick Facts
- Bitcoin trading near $60,000 on June 5, 2026, down from $71,000-$75,000 range at the beginning of June
- Spot Bitcoin ETFs recorded 13 consecutive days of outflows with $4 billion withdrawn since May 15
- $1.5 billion in leveraged crypto liquidations triggered as prices fell through key support levels
- Bitcoin down approximately 30% year-to-date and near its 2026 low set in February
The cryptocurrency has shed nearly $18,000 in value over just 10 days, signaling intense selling pressure across the market. Bitcoin was trading around $60,111, having broken through multiple support levels in a sustained downtrend that shows lower highs and lower lows, according to CNBC TV18.
Spot Bitcoin ETFs have become a primary driver of price movement, with Farside Investors data showing 13 straight trading days of net outflows. More than $4 billion has flowed out of spot Bitcoin ETFs since May 15, with roughly $1.4 billion exiting this week alone through Wednesday, according to Investopedia’s reporting on Farside data.
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What’s Driving the Selloff
Multiple factors are pressuring Bitcoin prices. Strategy’s first-ever sale of its Bitcoin holdings, disclosed Monday, rattled investor confidence. Michael Saylor, executive chair of Strategy, attributed the move to capital rotation rather than fundamental weakness, writing on social media that “capital markets are funding the AI buildout. This is capital rotation, not a Bitcoin impairment.”
Regulatory uncertainty also weighs on sentiment. Analysts pointed to concerns that the Clarity Act—a key piece of crypto legislation some viewed as a near-term catalyst—may not pass this year due to mid-term election distractions. JPMorgan’s Nikolaos Panigirtzoglou wrote Wednesday that policymakers’ diverted attentions could “postpone progress on crypto market-structure this year.”
Benjamin Cowen, founder of Into the Cryptoverse crypto analytics firm, acknowledged the market psychology: “Obviously people are getting spooked recently with Saylor’s selling.” He suggested progress on regulatory clarity could help flip the narrative.
The liquidation cascade has intensified pressure. Total leveraged crypto liquidations reached $1.5 billion over the last 24 hours, forcing traders’ positions closed due to falling prices. Crypto derivatives markets experienced their largest liquidation event since October, according to data cited by Investopedia.
Sources
- CNBC TV18 — Bitcoin price below $60,000, liquidation figures, technical analysis of support levels
- Investopedia — Bitcoin ETF outflow data from Farside Investors, Strategy selling details, regulatory outlook, analyst commentary
- Crypto Briefing — Bitcoin 25% decline confirmation for June
- Yahoo Finance UK — Bitcoin price decline and long-term holder selling behavior
- CoinDesk — Bitcoin selloff continuation, price levels, technical breakdown
