📅 June 4, 2026 | Daily Crypto Report The crypto market is feeling the heat as selling pressure intensifies, with Bitcoin dropping to around $61,000. The surge in liquidations from leveraged trades has accelerated the decline. According to Coinglass data, billions of dollars in long positions have been liquidated, and the panic in the market is deepening. The ETF scene continues to look weak as well, with total outflows of $4.4 billion from $BTC, ETH, $SOL, and XRP ETFs over the last 13 trading days. The deterioration in risk appetite is clearly reflected in institutional investor behavior. Ethereum's performance is particularly noteworthy; while $ETH has dropped about 45% since the beginning of the year, Bitcoin's loss stands at 32%. Following the formation of a death cross in the technical outlook, Ethereum appears to be under greater selling pressure compared to Bitcoin. Additionally, data indicating that Michael Saylor’s company Strategy has incurred an unrealized loss of about $11.5 billion in Bitcoin investments is being closely monitored. This development has reignited concerns regarding institutional BTC positions. On-chain data shows that more than 50% of the circulating Bitcoin supply is currently held at a loss. Historically, such periods often signal capitulation and extreme fear stages. On Polymarket, the probability of Bitcoin hitting 60K in June has now risen above 50%. The market has started to price in higher risks to the downside in the short term. On the macro front, the US Initial Jobless Claims data came in close to expectations. The lack of a significant deterioration in the labor market maintains the expectation that the Fed may not rush into rate cuts. This is contributing to continued pressure on risky assets.