Bleeding Bitcoin Holders Signal Stress — $60K Becomes Critical Battleground
Bitcoin futures are showing persistent bullish positioning even as prices fall: open interest rose to about 288,000 BTC while funding stayed positive at 0.083%, leaving the market vulnerable to more forced liquidations. In the 24 hours ending June 2, about $672 million in Bitcoin positions were liquidated, the largest wipeout since February 5, after BTC dropped below $67,000. Short-term holders are now deep in loss territory, with recent buyers exiting at a pace not seen since early year. Selling pressure is also building from larger traders and retail inflows to Binance, including a sharp jump in mid-sized BTC transfers and a 30-day retail inflow total of $9.2 billion. Technically, Bitcoin has broken key support around $74,800 and $70,400, with RSI near 30 indicating oversold conditions. Chart levels point to potential downside liquidity between $62,300 and $65,600, with a broader demand zone near $60,000.
