Bitcoin Tumbles Below 62,000 In A Brutal Crypto Selloff

2026-06-04 03:31:05

(MENAFN- The Rio Times) Thursday, June 4, 2026 · Covering Wednesday June 3 session Summary

Bitcoin had a miserable day. It tumbled below 62,000 dollars at its worst, down well over 4% on the day and more than 12% on the week, in one of the sharpest selloffs of 2026. The drop dragged the whole market down, and Bitcoin now sits roughly halfway below the record high it set last October.

Three things piled on at once. Big investment funds that hold Bitcoin have been pulling money out for nearly two weeks straight, the longest run of withdrawals on record. Strategy, the company famous for buying and never selling Bitcoin, sold a small amount for the first time in four years, which spooked people far more than the tiny size warranted. And as the price fell, traders who had borrowed to bet on a rise were forced to sell, pushing prices down even faster.

The mood is about as fearful as it has been all year. Some see a market this beaten-down as the kind of moment that often comes near a bottom, while others warn the drop could deepen toward 60,000 or below. The next signals investors are waiting on are the June 10 US inflation report and the June 16-17 Federal Reserve meeting.

The Big Three 1.
Bitcoin fell below 62,000 dollars at its worst, down more than 4% on the day and over 12% on the week. The drop wiped out months of recovery and left Bitcoin around half its October record. 2.
Money is leaving in a hurry. Big Bitcoin investment funds have seen withdrawals for nearly two weeks running, the longest streak on record, taking out roughly 3.5 billion dollars. That exit removed the main support that had cushioned earlier dips. 3.
Forced selling made it worse. As the price dropped, traders who had borrowed to bet on a rise were sold out, around 1.8 billion dollars' worth in a day. That cascade, plus a rare Strategy sale, turned a slide into a rout. Bitcoin ~63,900 −4.71% Day's low ~61,300 Below 62K Mood Fearful Worst of the year Off record ~50% Below Oct high 02 The Day's Numbers

What	Where it landed	Change	In plain terms
Bitcoin (live)	~63,866	−4.71%	Broke below 62K
On the week	−12%	Steep	Recovery erased
Forced selling	~1.8B	in 24 hours	Fund pullout ~3.5B

Source: Bitstamp, perpetuals tape, TradingView. Snapshot: June 4, 2026 05:37 UTC. Live Market IntelligenceCrypto - Live Market BoardInside: market breadth, the sector heatmap, currencies & rates, the Latin America scoreboard and the full instrument board.

Rio Times · Live Market Intelligence

Crypto - Live Market Board

Digital assets
Jun 4, 2026 · 04:26

Bitcoin · benchmark 63,554
-0.72% L 61,352day rangeH 64,659

-39.31% over 12 months

Market breadth · 17 names 6% advancing

1 ▲ advancing16 declining ▼

Currencies, rates & key inputs Ethereum 1,775 -2.01%

Solana 69.49 -2.96%

Gold 4,492 +1.25%

USD / BRL 5.08 +0.21%

Full instrument board

Instrument	Last	Change	YoY	Prev.	High	Low	Volume
BTC	63,554	-0.72%	-39.31%	64,014	64,659	61,352	58,951,983,104
ETH	1,775	-2.01%	-31.95%	1,812	1,814	1,718	27,358,400,512
SOL	69.49	-2.96%	-54.68%	71.61	71.93	67.67	5,233,352,704
XRP	1.17	-2.25%	-46.73%	1.20	1.21	1.15	3,040,890,880
BNB	600.65	-3.14%	-9.52%	620.10	622.72	596.25	2,374,150,656
ADA	0.20	-2.42%	-70.63%	0.20	0.20	0.19	836,351,936
DOGE	0.09	-2.66%	-52.75%	0.09	0.09	0.09	1,277,831,936
AVAX	7.83	-2.74%	-61.14%	8.05	8.10	7.63	523,015,456
LINK	8.08	-3.11%	-41.69%	8.33	8.38	7.92	550,943,104
DOT	1.05	-5.03%	-73.91%	1.10	1.11	1.04	203,124,496
LTC	46.18	-2.04%	-47.55%	47.14	47.38	44.77	395,432,000
BCH	242.28	-0.20%	-39.56%	242.77	248.11	231.89	593,417,280
TRX	0.33	-0.40%	+20.82%	0.33	0.33	0.33	674,407,232
XLM	0.21	-0.77%	-22.17%	0.21	0.22	0.20	925,320,576
HBAR	0.09	+0.60%	-48.75%	0.09	0.09	0.08	115,658,376
NEAR	2.42	-14.17%	-0.49%	2.82	2.84	2.43	1,453,868,288
ATOM	1.79	-3.32%	-58.10%	1.85	1.86	1.78	49,889,640
AAVE	71.43	-4.01%	-73.01%	74.42	74.78	70.03	372,145,408

Largest moves today NEAR
2.42
-14.17% DOT
1.05
-5.03% AAVE
71.43
-4.01% ATOM
1.79
-3.32% BNB
600.65
-3.14% LINK
8.08
-3.11% SOL
69.49
-2.96% AVAX
7.83
-2.74%

The session read The Bitcoin eased 0.72%, with breadth negative - 1 of 17 names higher. HBAR led, while NEAR lagged.

From The Rio Times

Related coverage · 4 Jun 2026 Brazil's Financial Morning Call for Thursday, June 4, 2026

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03 Why It Fell The big cause: money walking out

The deepest reason is that big investors have been steadily pulling money out. The funds that let large institutions own Bitcoin have seen withdrawals for nearly two weeks straight, the longest run since they launched, taking out something like 3.5 billion dollars. Those funds had been the main source of buying that propped the market up through 2025, so when they flip to selling, the floor gives way. This was a slow, steady exit that drained the market's support until the price finally cracked.

What lit the fuse: a sale and a cascade

Two things turned the slow leak into a sudden drop. First, Strategy, the company best known for buying Bitcoin and vowing never to sell, revealed a small sale, its first in about four years; the amount barely mattered, but it broke the never-sell story many holders believed in. Second, once the price started falling, traders who had borrowed to bet on a rise were forced to sell, around 1.8 billion dollars in a day, which fed on itself and drove the price down faster.

§04 · The Bigger Picture

Step back and this is a market that has been bleeding for weeks, not just one bad day. Bitcoin has now fallen roughly halfway from its October record, partly because investors have been moving money toward gold and technology stocks instead. There are two ways to read a drop this deep: markets this stretched and fearful are often close to a low, but with funds still pulling money out, there is little to stop another leg down toward 60,000. The next big clues are the June 10 inflation report and the Federal Reserve's June 16-17 meeting.

05 The Altcoin Tape

The selling was everywhere, not just Bitcoin. The big coins fell hardest, with Ether under 1,800 dollars and Solana and BNB down 5% or more. Tellingly, gold and silver barely moved, a sign this was money leaving risky bets rather than a panic across all markets.

Coin	Price	24h	Note
BTC	63,866	−4.71%	Below 62K intraday
ETH	1,783	−4.83%	Under 1,800
SOL	70.02	−6.60%	Among worst majors
BNB	602.50	−6.32%	Heavy drop
XRP	1.1825	−4.67%	Holds 1.18
DOGE	0.0895	−4.81%	Meme coins hit
ADA	0.1969	−8.88%	Deep fall
XLM	0.2104	−7.88%	Broad weakness
SUI	0.7957	−4.34%	Mid-cap softer
NEAR	2.4461	−12.94%	Sharp drop
TAO	219.17	−6.10%	AI token down
PEPE	0.03533030	−5.64%	Meme bleed
ZEC	582.26	−5.08%	Privacy coin falls
HYPE	69.90	−3.65%	Holds up best
ONDO	0.3853	−7.51%	Gives back gains
WLD	0.5251	+17.11%	Bucks the trend
ENA	0.1034	+2.09%	Small gainer
XAU	4,470	−0.10%	Gold barely moves
XAG	73.09	−1.93%	Silver eases
PAXG	4,457	−0.10%	Tokenized gold steady

Source: perpetuals tape, 24h change. Snapshot: June 4, 2026 05:37 UTC. Gold and silver shown for comparison. 06 A Look at the Chart

Bitcoin BTC/USD daily, Bitstamp. TradingView · June 4, 2026 05:37 UTC

The chart is deeply beaten-down. Bitcoin sits far below its longer-term trend line near 70,500 and beneath all its recent average prices, the picture of a market in a clear decline. The mood gauge is near an extreme low, which can come before a bounce but is not a bottom on its own. The 62,000 area it just broke is the line to watch; 60,000 is next.

07 Questions & Answers Why did Bitcoin crash? Three things at once: big funds pulled money out for nearly two weeks straight, Strategy made a rare sale that dented confidence, and falling prices forced borrowed bets to be sold. Bitcoin fell below 62,000 dollars. Is this the start of a long downturn? No one knows yet. Markets this fearful are sometimes near a low, but with funds still pulling money out the drop could deepen toward 60,000. The June 10 inflation report and June 16-17 Fed meeting are the next clues. Did everything fall? Almost. The big coins fell hardest, with Ether under 1,800 dollars and Solana and BNB down more than 5%. Gold and silver barely moved, a sign this was money leaving risky bets rather than a panic across all markets. Verdict

A grim day in a grim stretch. Bitcoin tumbled below 62,000 dollars, down more than 4% on the day and over 12% on the week. The cause was a pile-up: big funds pulling money out for the longest stretch on record, a rare Strategy sale that broke the never-sell story, and a wave of forced selling. The mood is as fearful as it has been all year, which sometimes comes near a low, but with money still leaving, this looks like a market still searching for a floor. The June 10 inflation report and June 16-17 Fed meeting are the next things that could turn it.

Related: The record fund withdrawals · The Strategy sale · The forced-selling wave.

Deep fear can come near a low, but with money still leaving, the floor is not yet in.

Disclaimer: This report is editorial market analysis based on publicly available data. It is not investment advice. Markets carry risk; consult a licensed professional before trading.