Bitcoin slid sharply to start the month, weighed down by news that Michael Saylor sold BTC for the first time.
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $71,465.77 |
| Ethereum | (CRYPTO: ETH) | $1,984.21 |
| Solana | (CRYPTO: SOL) | $80.81 |
| XRP | (CRYPTO: XRP) | $1.29 |
| Dogecoin | (CRYPTO: DOGE) | $0.09981 |
| Shiba Inu | (CRYPTO: SHIB) | $0.055532 |
Notable Statistics:
- Coinglass data shows 154,860 traders were liquidated in the past 24 hours for $632.05 million.
- SoSoValue data shows net outflows of $125.3 million from spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net outflows of $17.9 million.
Notable Developments:
- Bitcoin Dumps To $72,000 On Saylor Sale News: Watch This Key Support Level, Analysts Say
- ETH Continues To Underperform XRP, Zcash: Now Even Its Superfans Are Losing Hope
- Bitcoin Dives Below $73,000, Ethereum Loses $2,000: What Does Technical Analysis Say?
- Cardano Community Votes No On Its Own Summit, ADA Tanks 3%: What Is Going On?
- Binance Ventures Into US Stocks Trading For Overseas Customers, Eyes Tokenized Shares In ‘Super App’ Push
- Ripple CEO Predicts Stablecoin Market Cap To Hit $3 Trillion By 2031
- Michael Saylor Sells 32 Bitcoin: What Is Going On?
Trader Notes:
Trader Lennaert Snyder said Bitcoin losing both the previous monthly and weekly lows reinforces a bearish short-term structure.
According to Snyder, reclaiming previous weekly or monthly highs this week appears unlikely. He added that bias remains tilted toward additional downside and a daily imbalance near $73,300 has emerged as a fresh short setup.
Another trader, KillaXBT explained Bitcoin is “dumping into the new monthly open” as traders monitor how price reacts around major liquidity zones.
The analyst noted early-month price action often creates aggressive liquidity sweeps in both directions before trend continuation emerges.
If BTC holds the $70,800 support level, a rebound toward the $73,000–$74,000 range could follow. Furthermore, a reclaim of that zone will potentially open the path to $76,000 near the previous monthly open. However, losing the level could accelerate downside momentum toward $65,200.
KillaXBT also pointed to June 5 as a major pivot date traders are watching for possible trend direction changes.
Image: Shutterstock
Recent Comments