The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In a move reflecting the vulnerability of leveraged positions to sharp volatility, the crypto market saw $636 million in long liquidations. This wipeout followed a flash crash in Bitcoin's price to the $61,000 level, triggering automated sell orders. According to reports, small BTC sales by MicroStrategy intensified market pressure, which coincided with ongoing outflows from spot Bitcoin ETFs.
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Sign InThese movements come as digital assets face pressure from increasing net outflows in Spot Bitcoin ETFs, which recorded over $200 million in exits in recent sessions per market data. Compared to peer performance, MicroStrategy (MSTR) shares declined significantly due to the drop in its crypto holdings' value, while Coinbase shares stabilized at lower levels in line with falling spot trading volumes.
Traders should watch the psychological support level at $60,000, as Bitcoin trades near critical levels as of close June 4, 2026. Looking at the economic calendar, upcoming speeches from Fed officials, such as Kashkari on May 29, 2026, could dictate dollar direction and subsequently impact risk appetite in the crypto market.