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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In a move reflecting waning risk appetite across digital asset markets, Bitcoin price fell sharply below the critical USD 60,000 threshold. According to reports, selling pressure deepened due to a wave of long liquidations and shifting macro expectations regarding Federal Reserve interest rate cuts. Furthermore, Bitcoin sales by MicroStrategy and overall weak institutional demand contributed to the accelerated market losses.
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Sign InThis decline comes as crypto-linked equities face similar headwinds, with mining firms and exchange platforms trading lower in sympathy. Looking at historical context, Bitcoin has faced significant volatility throughout the second quarter, while market data indicates that long liquidations surpassed hundreds of millions of dollars in the last 24 hours (per market data). This follows a trend of cooling interest in spot Bitcoin ETFs, which have seen net outflows in recent sessions.
Traders should watch key technical support levels as Bitcoin remains under pressure at close June 5, 2026. Looking ahead, the market is awaiting a scheduled speech by Fed Chair Powell, which could provide further clarity on the monetary policy trajectory and its subsequent impact on high-beta assets.