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CryptoMediumUpdated×3•Originally published 4 June 2026•Updated 4 June 2026•
2 min read

Bitcoin Hits Pre-Conflict Lows as Crypto Liquidations Surge to $1.5 Billion

Key Facts

1Bitcoin price fell below $63,000 as traders monitor the psychological support level at $60,000.
2US-listed Bitcoin ETFs saw $519 million in outflows in a single day.
3Crypto market liquidations reached approximately $1.1 billion amid geopolitical pressures.

In a significant escalation of market volatility, Bitcoin has fallen to price levels seen prior to the Iran-US conflict, erasing recent geopolitical risk premiums. Spot Bitcoin ETFs have now marked their 11th consecutive day of net outflows, signaling a sustained retreat by institutional investors. According to reports, this downward momentum triggered a massive wave of forced selling, with total crypto long liquidations surging to $1.5 billion.

The downturn reflects broader fragility in risk assets following recent US inflation prints; per market data, the Core PCE Price Index rose 0.2% on May 28, 2026, meeting expectations but failing to provide a catalyst for a rebound. Compared to previous volatility cycles, the current 11-day streak of ETF withdrawals represents one of the most persistent periods of institutional selling pressure. Analysts suggest that the market is now re-pricing based on fundamental liquidity flows rather than purely speculative sentiment.

Investors should closely monitor whether Bitcoin can establish a floor at these pre-conflict levels to prevent further technical deterioration. According to the economic calendar, upcoming commentary from the Fed's Kashkari on May 29, 2026, will be a key focal point for assessing dollar strength. Bitcoin's near-term trajectory remains heavily dependent on a reversal in the current ETF outflow trend and a stabilization of global macro sentiment.

Latest Updates · 2

  1. Notable·

    Update: Traders are now focusing on the critical $60,000 support level as a technical floor to prevent further deterioration, amid reports that approximately $2 trillion has been erased from the total crypto market cap. This massive value contraction underscores the sellers' control over rebound attempts, drawing comparisons to previous bear market cycles.

  2. Notable·

    Update: Bitcoin has begun to show signs of relative stabilization as a new technical and psychological support floor forms around the $50,000 mark. This consolidation follows the aggressive liquidation wave, with traders now watching for the market's ability to hold this level to prevent further short-term technical deterioration.