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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Bitcoin has entered what analysts describe as a 'danger zone' after erasing several months of gains in a sharp downward move. According to reports, the leading cryptocurrency fell to $63,300, marking its lowest level since January. This decline, representing a drop of over 16% within a single week, is attributed to intensifying selling pressure across the broader crypto market following record ETF outflows and widespread liquidations reported earlier.
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Sign InThis slump occurs as risk assets face mixed pressures; U.S. Core PCE Price Index data released on May 28, 2026, held steady at 0.2% MoM, a metric investors watch closely for Fed policy cues. Compared to altcoins, Bitcoin's selling pressure intensified after spot ETFs recorded net outflows exceeding $200 million in a single day recently per Farside Investors data, significantly dampening retail and institutional sentiment.
Traders should now watch the psychological support level at $60,000, with the price sitting at $63,300 (close June 3, 2026). Looking ahead, the market will focus on upcoming inflation data from France on May 29, 2026, which could impact global risk appetite. Additionally, speeches from Federal Reserve officials, such as the upcoming address by Kashkari, remain primary catalysts for dollar trends that influence crypto volatility.