Bitcoin&#8217;s price action in June has been marked by heavy selling pressure, with 
the leading cryptocurrency suffering one of its sharpest declines of the year. 
In the first five days of the month, Bitcoin has triggered more than $1.28 
billion in long liquidations as prices plunged toward the critical $60,000 
region. According to the renowned analyst, Bitcoin&#8217;s struggles are part of a 
broader market-wide risk-off move in the US financial markets. In an X post on 
June 6, Adler Jr. explained that the Bitcoin market turmoil began following 
the release of stronger-than-expected US labor market data. The US economy 
reportedly added 172,000 jobs in May, significantly above forecasts of 88,000. 
Generally, rising employment is viewed as a positive economic signal. However, 
with inflationary pressures remaining elevated and energy prices still 
relatively high, investors interpreted the report differently. According to 
Adler Jr., the stronger labor market reinforced expectations that the US 
Federal Reserve is likely to adopt a restrictive monetary policy. Therefore, 
expectations for future rate hikes rose from 40% to 57%. The impact was felt 
across multiple asset classes. In the trading session on June 5, approximately 
$2.5 trillion was reportedly erased from major financial markets, including 
the S&amp;P 500 ($1.14 trillion), Nasdaq ($1.11 trillion), gold ($1 trillion), 
silver ($280 billion), and Bitcoin ($80 billion). Related Reading: Bitcoin 
Testing A Critical Support After Sharp Market-Wide Selloff Bitcoin Remains In 
Danger Of Excessive Leverage Despite Decline Beyond macroeconomic factors, 
Adler Jr. also highlighted the excessive leverage in the Bitcoin market. 
Notably, funding rates have remained positive throughout the decline, 
indicating that traders continued paying premiums to maintain long positions 
even as prices moved lower. Such conditions often signal excessive bullish 
positioning but pose a serious risk of forced liquidations if the decline 
persists. At the same time, Bitcoin open interest remained elevated, as the 
30-day open interest change peaked at 14.1% on June 3, then eased slightly to 
8.4% by June 6. The market expert explains that such movement indicates that 
leverage had accumulated rapidly during the decline before being forced out. 
In other layers of the market, US Bitcoin spot ETFs recorded approximately 
$1.40 billion in weekly net outflows, removing an important source of demand 
to become part of the selling pressure. Meanwhile, Adler Jr. highlights an 
increase in exchange inflows as Bitcoin&#8217;s seven-day exchange netflow average 
climbed to 10,200 BTC on June 2, then retraced to around 6,200 BTC. 
Historically, rising exchange balances are often associated with increased 
sell-side activity. Related Reading: Ethereum Breakdown Warning: This Key 
Level Could Trigger More Downtrend Bitcoin Outlook Hinges On Vital $60,000 
Support At press time, Bitcoin trades at $61,593, reflecting a 1.95% gain in 
the past day. According to Adler Jr., the key market level is $60,000, 
representing the current cycle low. The market analyst states it’s important 
that several market segments, i.e., ETF outflows, exchange inflows, and the 
futures market cool down before a price break occurs below $60,000, to avoid 
another cascading effect. Featured image from Shutterstock, chart from 
Tradingview

Bitcoin&#8217;s price action in June has been marked by heavy selling pressure, with the leading cryptocurrency suffering one of its sharpest declines of the year. In the first five days of the month, Bitcoin has triggered more than $1.28 billion in long liquidations as prices plunged toward the critical $60,000 region. According to the renowned &#8230;

Bitcoin’s June Bloodbath Explained: Causes, Market Impact, And Outlook

Bitcoin ( BTC) is trading at $61,822 on June 7, 2026, at 8:35 a.m. EDT, caught 
between a deeply oversold momentum reading on shorter timeframes and 
relentless selling pressure from moving averages across the daily chart. The 
technical picture this weekend is mixed but carries a clear bearish lean, with 
the $63,000 level standing as […]

Bitcoin ( BTC) is trading at $61,822 on June 7, 2026, at 8:35 a.m. EDT, caught between a deeply oversold momentum reading on shorter timeframes and relentless selling pressure from moving averages across the daily chart. The technical picture this weekend is mixed but carries a clear bearish lean, with the $63,000 level standing as &#8230;

Bitcoin Holds Above $59.1K Low as Short-Term Charts Signal Oversold Bounce Setup

The seizure underscores escalating US efforts to curb Iran&#8217;s oil revenue, 
potentially impacting global oil markets and geopolitical dynamics.
The post US Department of Justice seizes supertanker M/T Davina for 
transporting sanctioned Iranian oil appeared first on Crypto Briefing.

The seizure underscores escalating US efforts to curb Iran&#8217;s oil revenue, potentially impacting global oil markets and geopolitical dynamics. The post US Department of Justice seizes supertanker M/T Davina for transporting sanctioned Iranian oil appeared first on Crypto Briefing.

US Department of Justice seizes supertanker M/T Davina for transporting sanctioned Iranian oil

Meta&#8217;s data center could transform Richland Parish&#8217;s economy, but water and 
energy demands may challenge long-term sustainability and growth.
The post Meta plans largest data center in rural Louisiana, sparking local 
economic discussions appeared first on Crypto Briefing.

Meta&#8217;s data center could transform Richland Parish&#8217;s economy, but water and energy demands may challenge long-term sustainability and growth. The post Meta plans largest data center in rural Louisiana, sparking local economic discussions appeared first on Crypto Briefing.

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SpaceX&#8217;s entry into AI infrastructure with Google deal diversifies its 
portfolio, potentially stabilizing future IPO prospects with steady revenue.
The post SpaceX signs $30B deal to lease computing capacity to Google appeared 
first on Crypto Briefing.

SpaceX&#8217;s entry into AI infrastructure with Google deal diversifies its portfolio, potentially stabilizing future IPO prospects with steady revenue. The post SpaceX signs $30B deal to lease computing capacity to Google appeared first on Crypto Briefing.

SpaceX signs $30B deal to lease computing capacity to Google

The US blockade heightens regional tensions, potentially leading to increased 
military actions and impacting global maritime commerce stability.
The post US redirects 132 vessels, disables six in Iran blockade operations 
appeared first on Crypto Briefing.

The US blockade heightens regional tensions, potentially leading to increased military actions and impacting global maritime commerce stability. The post US redirects 132 vessels, disables six in Iran blockade operations appeared first on Crypto Briefing.

Bitcoin’s June Bloodbath Explained: Causes, Market Impact, And Outlook

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