- Market Commentary :BTC experienced a sharp pullback over the past 24 hours, briefly falling toward the $62,000 level as more than $500 million in spot ETF outflows and widespread deleveraging pressure weighed heavily on market sentiment. ETH followed the broader market decline and dropped below key short-term moving averages. While the altcoin market remained under pressure overall, the AI sector showed relative strength, with tokens such as WLD and MAGMA posting notable gains, highlighting continued interest in selective thematic opportunities.
- Key Data : Total crypto liquidations reached approximately $1.74 billion over the past 24 hours, with long positions accounting for around $1.54 billion, nearly 90% of the total. Meanwhile, aggregate open interest declined to approximately $432.39 billion, while perpetual futures trading volume stood at roughly $1.29 trillion, indicating that the market is undergoing a rapid deleveraging and risk repricing process.
- This Week’s Focus: Persistent ETF outflows have become a major source of pressure on the crypto market. As of early June, total crypto ETF assets under management (AUM) stood at approximately $117.4 billion, while net outflows over the past week reached around $805 million. At the same time, the depegging of apxUSD to around $0.94 renewed concerns over collateralization mechanisms and liquidity risks associated with crypto-native stablecoins.
- Next Week to Watch: The upcoming implementation of the EU's MiCA regulatory framework remain key themes for the market. Over the next seven days, approximately $884 million worth of tokens are scheduled to be unlocked, with HYPE, HOME, and ENA representing the largest unlock events. The pace of supply release and the market's ability to absorb it may continue to influence short-term sentiment and price action.
Discover more details today → Gate Research: ETF Outflows Trigger Market Pullback, Long Liquidations Accelerate Crypto Market Deleveraging
Gate Research is a comprehensive blockchain and cryptocurrency research platform that provides deep content for readers, including technical analysis, market insights, industry research, trend forecasting, and macroeconomic policy analysis.
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Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.
Gate Team
June 4, 2026
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