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BTC has since recovered slightly to around $67,000, but the market is now testing a critical support zone. A decisive break below current levels could open the door to a deeper correction, with even the $60,000 area no longer looking guaranteed as a floor. The sharp move triggered a wave of liquidations across leveraged positions. Over the past 24 hours, more than $1.8 billion has been wiped out from the crypto market, including roughly $1.58 billion in long positions alone. For now, traders are closely watching whether Bitcoin can defend this support level—or if another leg down is still ahead.

BTC has since recovered slightly to around $67,000, but the market is now testing a critical support zone. A decisive break below current levels could open the door to a deeper correction, with even the $60,000 area no longer looking guaranteed as a floor. The sharp move triggered a wave of liquidations across leveraged positions. Over the past 24 hours, more than $1.8 billion has been wiped out from the crypto market, including roughly $1.58 billion in long positions alone. For now, traders are closely watching whether Bitcoin can defend this support level—or if another leg down is still ahead.

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June has historically been one of Bitcoin’s weakest months The average June return for #BTC is -0.44%, with 5 of the last 8 Junes closing in the red. Only September has a worse historical record, averaging -3.08%. This month isn't off to a great start either. Bitcoin has already fallen more than 5% in the first two days of June, breaking below the psychological $69k level. The selloff accelerated after Strategy officially sold BTC — a notable move from a company whose chairman, Michael Saylor, once said that it would be better to sell a kidney than sell Bitcoin. The amount sold was small, but the timing couldn't be worse for a market already struggling to find support. 

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