Deep Tide TechFlow News, June 4th, according to CoinDesk reports, Bitcoin briefly dropped to $61,300, then rebounded to about $62,500, with the crypto market experiencing approximately $3 billion in total liquidations over the past two days. Derivatives data shows open interest has decreased by 8.5% to $111.4 billion, indicating leveraged positions are being liquidated.

In the options market, the put skew for Bitcoin and Ethereum has strengthened, with the notional open interest of $60,000 strike put options on Deribit exceeding $1 billion. Meanwhile, SOL's open interest surged to a record high as the price declined, suggesting short positions may be increasing, and the overall sentiment in the derivatives market is bearish.