Bitcoin slid sharply to start the month, weighed down by news that Michael Saylor sold BTC for the first time.

CryptocurrencyTickerPrice
Bitcoin(CRYPTO: BTC)$71,465.77
Ethereum(CRYPTO: ETH)$1,984.21
Solana(CRYPTO: SOL)$80.81
XRP(CRYPTO: XRP)$1.29
Dogecoin(CRYPTO: DOGE)$0.09981
Shiba Inu(CRYPTO: SHIB)$0.055532

Notable Statistics:

  • Coinglass data shows 154,860 traders were liquidated in the past 24 hours for $632.05 million.       
  • SoSoValue data shows net outflows of $125.3 million from spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net outflows of $17.9 million.

Notable Developments:

Trader Notes:

Trader Lennaert Snyder said Bitcoin losing both the previous monthly and weekly lows reinforces a bearish short-term structure.

According to Snyder, reclaiming previous weekly or monthly highs this week appears unlikely. He added that bias remains tilted toward additional downside and a daily imbalance near $73,300 has emerged as a fresh short setup.

Another trader, KillaXBT explained Bitcoin is "dumping into the new monthly open" as traders monitor how price reacts around major liquidity zones.

The analyst noted early-month price action often creates aggressive liquidity sweeps in both directions before trend continuation emerges.

If BTC holds the $70,800 support level, a rebound toward the $73,000–$74,000 range could follow. Furthermore, a reclaim of that zone will potentially open the path to $76,000 near the previous monthly open. However, losing the level could accelerate downside momentum toward $65,200.

KillaXBT also pointed to June 5 as a major pivot date traders are watching for possible trend direction changes.

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