Overview
- Bitcoin fell into the mid‑$60,000s on Wednesday, producing roughly $1.8–$1.83 billion in forced liquidations that closed about 277,000 trader positions and hit long bets hardest.
- Spot Bitcoin ETFs recorded multi‑session net outflows totaling multiple billions, removing a steady institutional buyer that had previously cushioned selloffs.
- Strategy Inc. disclosed a sale of 32 BTC between May 26 and May 31, its first public sale in years, and the disclosure amplified sentiment that a major corporate holder can become a seller.
- Renewed U.S. strikes on Qeshm Island and subsequent missile and drone activity from Iran raised investor risk aversion and intensified the selloff while equities pushed into AI‑driven records.
- Options and prediction markets show elevated demand for downside protection, with open interest clustered around $60,000 and $50,000 strikes and traders now watching $65,000 for immediate support and $60,000 as the next likely test.