Bitcoin is hovering around the $60,000 area as traders watch whether the support level holds. On June 5, 21Shares strategist Matt Mena said a breakdown could shift attention to $55,000, while holding support would help keep a $100,000 year-end target in view. He also pointed to U.S. May jobs data and renewed scrutiny of Strategy (MSTR) as factors influencing sentiment.

Bitcoin trading in South Korea shifted into a sustained discount versus global prices, with the KRW gap reaching 3.1% on June 1. By 11:15 a.m. EDT on June 6, BTC was near $60,608 worldwide but $59,115 on Upbit, a 2.46% markdown, even as Upbit posted $1.21B in 24-hour volume. The report links the softer crypto bid to capital flowing into AI and semiconductor stocks during a KOSPI rally.

Bitcoin fell below $62,000 on June 5, 2026 after opening at $63,812 and later touching $62,045 as sentiment weakened. The move followed $3.58 billion in 12 straight sessions of U.S. spot ETF outflows and Strategy's sale of 32 BTC (about $2.5 million), its first since December 2022. A Fear & Greed Index reading of 12 underscored the risk-off mood as markets focused on the $60,000 level next.

On June 6, the total crypto market cap fell to about $2.2 trillion, extending a sharp multi-week pullback. ProCap BTC CIO Jeff Park said the move reflects capital rotating into the market’s next crowded trades rather than a structural crypto problem, as Bitcoin outflows reached about $3.83 billion over a combined 35-day stretch.

Polymarket odds are indicating a record-high 65% probability that Bitcoin falls below $50,000 in 2026, as June opens with BTC down nearly 20%. The market has also flipped into “extreme fear,” while CoinGlass data shows nearly $500 million in BTC long liquidations in under 48 hours after Bitcoin slid below $60k for the first time in almost four months.

U.S. spot bitcoin ETFs posted $326 million in net outflows on June 5, while U.S. spot ether ETFs recorded $5.97 million in net outflows. The reversal came one day after both ETF categories briefly ended extended redemption streaks, as bitcoin traded down to around $59,000 and ether slid toward $1,500.

CryptoQuant QuickTake analyst Crazzyblockk says Binance has seen sustained Bitcoin selling pressure for 48 consecutive days, starting with mild selling on April 19 and intensifying on May 28. During the period, Binance reserves rose from 619,529 to 659,488 BTC, with the strongest signal on June 2 when adjusted net inflow hit +8,791 BTC. As of writing, BTC was around $61,073, down 0.9% over the past day.

Three long-inactive Bitcoin wallets created in 2014 and 2017 moved a total of 599.76 BTC worth $37.04 million during 2026 as BTC touched its lowest price level of the year. The transfers include 165.50 BTC from a 2014 address and 434.26 BTC from two 2017 addresses, with the coins later sitting in newly created addresses.