Overview
- A sharp selloff that intensified Friday pushed Bitcoin briefly below $60,000 before a partial rebound to about $61,000 in Asian trading.
- U.S. spot Bitcoin ETFs recorded a record multi‑day streak of net outflows that required issuers to sell spot BTC, removing billions of dollars and sustained buying support.
- Strategy disclosed a sale of 32 BTC between May 26 and May 31, a small but highly symbolic move that dented confidence in corporate treasury accumulation.
- Derivatives markets amplified the drop with roughly $1.6–$1.8 billion in liquidations over 24 hours, mostly from long positions, as exchanges automatically closed leveraged bets.
- Analysts say key levels to watch are $60,000 for near‑term stability and a deeper support band near $55,000–$50,000 if selling pressure continues, with flows, Fed expectations and liquidation mechanics determining the next leg.