Bitcoin & Crypto Market — 2026-06-05

Bitcoin: $62,795 (down 14% weekly, down 21% monthly)

• Intraday low: $61,350; 24h range: $61,385 - $63,828
• $1.76B liquidations ($1.5B+ from longs)
• Fear & Greed Index: 12 (extreme fear)
• ETF outflows: 13 consecutive days, ~$4.4B total
• 30-day implied volatility (BVIV): 53.17 (highest since April 2)

Key narratives:

1. Strategy's BTC sale rattles market — First BTC sale since 2022 (32 BTC). Saylor: "capital rotation into AI, not Bitcoin impairment." MSTR down 15% in 5 days.
2. ETF outflows continue — Institutions de-risking. Hedge funds and brokerages leading sell-off, banks accumulating.
3. Macro headwinds — US-Iran tensions, rising energy prices, Eurozone inflation at 3.2%, tighter financial conditions.
4. $60K support critical — Break below could trigger another wave. $55K-$57K bear case. Spot demand contraction: 501K BTC negative.
5. Glassnode: bear-market dynamics — Realized losses $1.35B/day ($770M/day from long-term holders). True Market Mean failed as support.

Ethereum: $1,772 (down 4.89%) SOL: down 7.07% — broad altcoin weakness.

Outperformers: WLD (+29.7%), ENA (+19.1%) — ecosystem news driven.

Macro context:

• US Treasury sanctioned 4 Iranian crypto exchanges (Nobitex)
• Eurozone May CPI: 3.2% (above 2% target)
• Fed Beige Book: energy prices fueling inflation
• Nonfarm Payrolls data due today (June 5)