BTC don pass 63K as dem liquidate $1.12B; ETF money wey comot dey make people fear risk
Bitcoin (BTC) drop for second day straight, comot below 63,000 and touch near 14-day low around $63,314. Ethereum (ETH) fall to about $1,798. For the last 24 hours, total crypto liquidations reach about $1.12B across 166,334 traders, with long positions di dominate (~85%, ~$949M).
The BTC sell-off get three main reasons: (1) US spot Bitcoin ETF exit of $519M on June 2, BlackRock and Fidelity among di sellers; (2) Strategy (Michael Saylor) reportedly sell 32 BTC first time in about four years, this add negative sentiment; and (3) weaker rate-cut expectations as inflation remain sticky, make US yields higher and weigh down risk assets. Geopolitical tension (US–Iran) also add to risk-off mood.
Altcoins follow de-risking: SOL slide to around $70.9 and XRP to about $1.196. Fear & Greed Index remain 12 (extreme fear), equities close lower, push more deleveraging.
For traders, watch BTC around the 63,000 psychological level. Also check if ETF flows calm down and if US 10Y yields and geopolitical headlines cool. If BTC support fail, downside pressure fit increase further.
Bearish
BTC di stop dey fall and heavy liquidation wey dey skew to longs show say na forced deleveraging dem dey do, no be normal pullback. Big spot Bitcoin ETF outflows dey weaken marginal demand, and Strategy selling (symbolic BTC supply sign) fit pressure sentiment. At the same time, sticky inflation and higher US yields dey reduce risk appetite, make recovery hard for near term. Even though equities no dey directly drive crypto (earlier notes show divergence), the latest update show broad risk-off conditions (extreme fear, equities lower), wey raise probability of further downside if BTC no hold the 63,000 area. Longer-term stabilization go likely need ETF flow improvement and clearer shift toward easier-rate expectations.