BTC burst down below $62K as $1.5B don clear; Treasury dey signal say dem get strategic Bitcoin reserve

Published: 2026-06-04 03:08:38 |

Bitcoin (BTC) drop comot pass $62,000 for late Wednesday, extend heavy sell-off wey wipe about $5,300 inside one session and push price near psychological $60,000 level. BTC liquidations hit about $1.5B for 24 hours, plus over 208,000 traders knack forced out. Most loss kon hit long positions: Bitcoin alone make around $800M, while Ether (ETH) add about $386M. Market pressure come strong from institutional outflows and one leveraged liquidation cascade, plus geopolitical risk sentiment linked to US–Iran tensions. Technically, the move give lowest daily close since February and deep oversold RSI (~17), while trend indicators still bearish. Overhead resistance dey near $62,847 first, then $65,903 and $72,070; supports cluster around $61,384, $59,740, and $55,545. Recovery thesis need reclaim $62,847 plus follow-through above $65,903, otherwise daily close below $59,740 go weaken near-term bounce odds. For policy side, US Treasury Secretary Scott Bessent talk say department dey move “with all deliberate speed” on strategic Bitcoin reserve under 2025 executive order. Government reportedly get 328,372 BTC (about $215B at current prices). Bessent also say the Digital Asset Market CLARITY Act fit advance for Senate this summer. Flows also show derisking: spot Bitcoin ETF products extend their longest outflow streak (12–13 sessions), with cumulative withdrawals near $3.45B, including about $2.30B in May. Options activity turn bearish, with heavy put demand and rising implied volatility.

Bearish

Dis tori news bad for BTC trading for short term because e combine (1) technical breakdown — BTC loss $62K and e print di weakest daily close since February — and (2) heavy long-focused liquidation wave (~$1.5B, 208k+ traders), wey normally dey push more sell pressure through margin unwind. Spot Bitcoin ETF flows sef confirm derisking: back-to-back big outflows (about $3.45B total, $2.30B for May) dey often precede more downside when price action don already weak. At di same time, US Treasury strategic Bitcoin reserve and possible progress on di CLARITY Act dey provide structural support, but dem no go likely immediately cancel out di current positioning stress. Historically, policy headlines fit help for longer horizon, but inside liquidation-driven selloffs market usually dey trade first based on leverage and liquidity. Short term, watch di $62,847 reclaim level and then $65,903 for confirmation; if $59,740 no hold e likely go extend di downtrend toward di $55.5K zone. Medium/long term, if ETF outflows stabilize and macro conditions improve, di oversold RSI (~17) fit set up relief rallies — but current indicators (downtrend, bearish options skew) keep di risk skew to di downside.