June 4, 2026 Afternoon Crypto Market Recap: BTC sharply drops below 62K, ETH and SOL undergo deep corrections, panic release signals the beginning of a bottoming window

Mainstream coins continue to experience significant adjustments. BTC breaks below 65K and tests around 62K, ETH and SOL follow with sharp declines, market panic emotions are concentrated and released. The following analysis combines the latest candlestick charts, real-time prices, and news sentiment.
Real-time Price Snapshot #Gate携手Alpaca链接数字资产与股票金融交易 $BTC ‌
BTC: approximately $62,700-$62,800 (shown as $62,784.3 in the chart, 24h decline of 6.66%, intraday low of $61,320).
ETH: approximately $1,750-$1,760 (shown as $1,753.55 in the chart, 24h decline of 6.94%).
SOL: approximately $68-$69 (shown as $68.40 in the chart, 24h decline of 9.10%).
Clear weakness was evident yesterday; today, the three major coins resonate with accelerated downward movement, with BTC leading the market risk appetite to a low.
Core News Drivers
Macro Pressure Dominates: Strengthening dollar, rising U.S. Treasury yields, and macroeconomic data impacts trigger concentrated sell-offs of risk assets. Continuous outflows from Bitcoin ETFs exacerbate downward pressure.
Regulation and Institutions: Long-term policy favorable frameworks remain, but short-term institutional redemptions and profit-taking sentiment are strong.
Ecosystem Dynamics: SOL network activity and TVL maintain resilience; ETH staking ecosystem remains stable. Overall fundamentals have not significantly deteriorated; the current correction is mainly driven by macro sentiment, representing a cyclical adjustment.
Technical Analysis (Based on 4-hour candlestick chart)
BTC: Candles show consecutive bearish declines with breakdowns, MACD death cross deepening, EMA lines forming a clear bearish alignment. Key support at 61,000-62k, resistance at 66k-67,000. The intraday low near 61,320 shows signs of minor stabilization; oversold conditions are initially apparent, but confirmation of rebound requires volume support.
ETH: Following BTC’s breakdown, candles quickly fell from above 1,850 to around 1,750. Watch support at 1,700-1,720 and resistance at 1,800. Beta characteristics cause larger adjustments; waiting for BTC to show signs of stabilization.
SOL: High Beta feature is prominent, leading the decline, falling from recent highs to around 68. Network fundamentals provide support, target 75-78; key support at 66-68. The most intense correction within the sector.
Overall candlestick judgment: Continuous large-volume bearish candles release panic selling, with volume increasing but initial lower shadows appearing. This is a deep correction following a prior rebound, without clear bullish divergence, mainly consolidating in a short-term bottoming phase. Under BTC’s leadership, the market enters a recovery stage, focus on support validity.
Trading Recommendations
Short-term: If BTC holds above 61,500-62k, consider cautious dips aiming for 65K-66K, with stop-loss below 60K. ETH and SOL to follow after BTC stabilizes.
Mid-term: The current deep correction offers opportunities for phased positioning, with BTC as core holding and SOL as an aggressive asset. Keep total exposure between 20-40%, maintain sufficient cash reserves.
Risk Management: Leverage strictly controlled within 3x, set dynamic stop-losses. Focus on ETF flow trends, macro data, and volume recovery signals.
Precautions: Avoid panic selling or early heavy re-accumulation; when volume continues to shrink, stay on the sidelines.
Previous Analysis Validation: The earlier view that BTC’s correction would continue and bottom signals need confirmation remains accurate. BTC has further dipped below 62K, SOL’s high Beta correction is evident. Fundamentals are still supported; this is a normal cyclical correction, providing potential mid-term entry opportunities.
Summary: On the afternoon of June 4, the market experienced a deep correction, with BTC sharply dropping near 62K to test key support, ETH and SOL declined in tandem. After panic release, initial bottoming signals appear; monitor support levels and macro policy changes. Crypto markets are highly volatile; strict risk control is advised, and decisions should align with personal risk preferences. DYOR.
This analysis is based on publicly available real-time data and market experience, for reference only, not investment advice. Markets are constantly changing; trade cautiously.