The crypto market is facing its biggest pressure in the last four months. Bitcoin (BTC) fell to touch $61,397 in trading on June 5, 2026, marking the lowest price since February 2026.
This decline brings Bitcoin towards a weekly correction of over 16%, potentially the deepest weekly drop since November 2022.
Not only Bitcoin, the entire crypto market is also under pressure. The global market capitalization has fallen to around $2.21 trillion, while the Fear & Greed Index has dropped to 20, indicating 'Extreme Fear' among investors.
Market Condition Summary Key Indicators Bitcoin Price $61,500 – $62,000 Weekly Decline ±16% Crypto Market Capitalization $2.21 Trillion Fear & Greed Index 20 (Extreme Fear) Weekly Liquidation $5.94 Billion Bitcoin ETF Outflows $4.4 Billion Key Factors Pressuring Bitcoin
Bitcoin ETF Outflows Hit Record High
The Bitcoin Spot ETF in the United States recorded outflows for 13 consecutive days, marking the longest withdrawal period since the product was launched.
Total outflows reached around $4.4 billion, causing ETF assets under management to drop from $104 billion to just $80 billion.
This outflow indicates that institutional investors are reducing their exposure to crypto assets amid increasing global economic uncertainty.
Selling Strategy for Bitcoin for the First Time Since 2022
The market was also shocked by the decision of Strategy, the largest corporate Bitcoin holder in the world, to sell 32 BTC valued at around $2.5 million.
Nominally, this amount is relatively small, but its psychological impact is significant as it's the first sell-off since 2022.
Mass Liquidations in the Derivatives Market
Price drops trigger a wave of forced liquidations in the futures and derivatives market.
Throughout the last week, over $5.94 billion in long positions were liquidated. This domino effect accelerated selling pressure and deepened the market correction.
Capital Rotation to the AI Sector
Another reason that is pressuring the crypto market is the shift of capital to the artificial intelligence (AI) sector.
Global investors are beginning to shift funds to AI stocks, tech companies, and various large IPOs that are emerging. As a result, the liquidity that previously flowed into digital assets is beginning to wane.
Impact on the Crypto Market
Corrections are not only happening with Bitcoin.
Weekly Price Changes for Assets Bitcoin (BTC) $61,500 – $62,000 -16% Ethereum (ETH) $1,654 -18% Dogecoin (DOGE) $0.084 -14.85% Solana (SOL) $65.62 -5.89% BNB $586.99 -2.52%
Bitcoin itself has now fallen more than 45% from its all-time high of around $126,200 reached in October 2025.
Additionally, BTC is currently trading below all major EMAs (50, 100, and 200 days), confirming the dominance of the bearish trend.
Current Market Sentiment: Bearish
Several indicators show that selling pressure still dominates the market:
Fear & Greed Index
The index dropped to 20, indicating extreme fear and minimal risk appetite from investors.
Negative Coinbase Premium
Bitcoin is trading at a discount compared to the global average price, indicating weak demand from US investors.
Trading Volume Decreasing
Some analysts say the market has entered a full bear market with significantly decreased trading activity compared to a few months ago.
Institutional Outflows Continue
Bitcoin ETFs have recorded significant withdrawals for four consecutive weeks, showing that institutional investors are still cautious.
Positive Catalysts to Watch
Despite the main trend still being bearish, there are some positive signals starting to emerge.
ETFs are beginning to record inflows
After 13 consecutive days of outflows, the Bitcoin Spot ETF finally recorded a net inflow of $3.05 million.
The amount may be small, but it could signal the beginning of a sentiment shift.
Bitcoin is starting to enter the capitulation phase
Several analysts, including Standard Chartered, assess that the market is starting to show signs of capitulation.
Historically, the capitulation phase often appears close to the market bottom before the next upward trend begins.
Crypto Adoption in Indonesia Remains Strong
The number of crypto investors in Indonesia has surpassed 21 million users.
Amid the market correction, domestic investors tend to adopt a defensive strategy and have not shown signs of massive panic selling.
Extreme Oversold RSI
The daily RSI for Bitcoin is hovering around 17.
Historically, extreme oversold conditions like this are often followed by a relief rally or a technical rebound in the short term.
Risks Still Lurking Support at $60,000 Becomes a Critical Area
The $60,000 level is currently the most important area for Bitcoin.
If that support fails to hold, additional selling pressure could push the price towards the $52,000–$58,000 area.
Geopolitical Tensions
Tensions between the United States and Iran have escalated again, becoming a new source of uncertainty for the global market.
US Inflation Still High
The latest PCE inflation data shows a year-on-year figure of 3.8%, far above the Federal Reserve's target of 2%.
This situation makes the chances of interest rate cuts in the near term increasingly slim.
Regulatory Uncertainty
The development of crypto regulations in the United States is still slow, creating additional uncertainty for institutional investors.
Bitcoin Prediction for the Next 1–4 Weeks Bearish Scenario (Probability 50–60%)
If selling pressure continues and ETFs continue to experience outflows, Bitcoin could potentially drop towards the area:
$52,000 – $58,000
Neutral Scenario (Probability 25–30%)
Bitcoin is moving sideways and consolidating in the area:
$60,000 – $65,000
This scenario requires stabilization of ETF flows and easing macroeconomic pressures.
Bullish Scenario (Probability 10–20%)
If a technical rebound occurs due to extreme oversold conditions, Bitcoin has the potential to rise towards:
$65,000 – $71,000
However, the rise is still at risk of being a relief rally before the main trend dominates again.
Conclusion
Bitcoin is currently at a very critical juncture.
On one hand, the market faces immense pressure from ETF outflows, leverage liquidations, high inflation, and geopolitical uncertainties. On the other hand, some indicators are starting to show signs of capitulation that historically often emerge before market bottoms.
The $60,000 area is a level that all market participants should pay attention to. Holding this level can open up opportunities for consolidation and recovery, while a breakdown below could trigger the next wave of selling.
For long-term investors, periods like this often serve as a test of patience as well as an accumulation opportunity. Meanwhile, for short-term traders, discipline in risk management becomes far more important than chasing aggressive profits.
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