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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Amid prevailing uncertainty across risk assets, the crypto market faced a wave of sharp volatility that tested key support levels. Bitcoin is currently trading above the $63,000 mark following a volatile week that saw a brief crash to the $59,000 level. According to reports, the cryptocurrency faced significant selling pressure driven by sustained ETF outflows and renewed fears regarding the trajectory of central bank interest rates.
These movements coincide with a global retreat in risk appetite, as spot Bitcoin ETFs recorded net outflows exceeding $100 million in recent sessions per Farside Investors data. In comparison to traditional assets, traders are monitoring Gold's relative stability, while rising US Treasury yields continue to pressure non-yielding assets like cryptocurrencies, especially as Eurozone inflation reached 3.2% per market data released on June 2, 2024.
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Sign InInvestors should watch the psychological support level at $60,000, with the price hovering near $63,129 (as of close June 8, 2026). Looking ahead at the economic calendar, the ISM Non-Manufacturing PMI data from the US on June 3 will be a critical catalyst, as it may provide fresh clues on the Fed's interest rate path and its subsequent impact on crypto market liquidity.