Bitcoin slides back to $62,400! The largest weekly ETF outflow in history totals $3.4 billion—long positions were liquidated, with $283 million got wiped out in a single bloodbath.

Bitcoin 6/9 morning report: $62,569, down 1.21% in 24 hours, just a rebound from the June 6 bottom at $59,353, still oscillating at the lowest levels since February. Ethereum also closed red at $1,659, with nearly $283 million in market-wide liquidations in the past 24 hours, with longs accounting for over half, first bloodshed. ETF record weekly outflow of $3.4 billion, Saylor's Strategy sold coins for the first time in nearly four years, institutional confidence remains under pressure.
(Background: Bitcoin crashes "66k鎂"！$1.78 billion liquidation, 90% of longs wiped out, fear index plunges to 11)
(Additional context: Trump: hopes to cut rates but "leaves it to Powell"! 3.8% inflation doubles non-farm, 96% betting on rate hikes by year-end)

Table of Contents

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• 💥 Liquidation data: longs hit hardest
• 📉 Three major triggers weigh heavily
• 🔻 Altcoins also red: SOL, XRP both fall
• 😱 Fear index 10, US stocks rebound but crypto diverges

Bitcoin has been falling from its peak of $77,398 on May 26, experiencing a two-week plunge, hitting a bottom of $59,353 on June 6, the deepest decline since February 2026. On Tuesday morning (6/9) at 9 AM, Bitcoin hovered at $62,569, down 1.21% in 24 hours, with a 24-hour range of $64,200 to $62,408. Ethereum also weakened, currently at $1,659.78 (-1.95%), over 20% below its high of $2,126 on 5/26, with a brief dip to $1,522 during the week. Market sentiment has plunged to freezing point, and rebound momentum remains weak.

💥 Liquidation data: longs hit hardest

According to CoinGlass, total market liquidations in the past 24 hours reached $282.62M (about $283 million), with long liquidations at $156.50M (about 55%), and short liquidations at $126.12M (about 45%), indicating longs suffered significantly more damage than shorts.

In the past 12 hours, liquidations totaled $146.46M, with $44.83M still liquidated within the last hour, and the largest single liquidation reaching $18.68M. Leveraged long positions have been continuously cleared, extending the market’s washout pattern.

📉 Three major triggers weigh heavily

This decline is not without clues; multiple negative factors triggered simultaneously:

① Record weekly net outflow from Bitcoin spot ETFs
Since their launch in 2024, US Bitcoin spot ETFs experienced a record weekly net outflow of $3.4 billion (about $3.4B) last week. The outflow has continued for 13 trading days, totaling $4.33B, roughly 59,351 BTC, showing clear signs of institutional selling retreat.

② Strategy’s first Bitcoin sale in nearly four years
Michael Saylor’s Strategy (formerly MicroStrategy) recently confirmed a reduction for the first time in nearly four years, shaking market confidence in "long-term institutional holding," triggering chain reactions of selling pressure.

③ Rising US Treasury yields and lowered rate cut expectations
Market expectations for Fed rate cuts in 2026 continue to decline, liquidity tightening suppresses risk assets. April CPI YoY hit 3.8% (highest since May 2023), raising concerns that if the May CPI released tomorrow (6/10) again exceeds expectations, the remaining room for rate cuts this year could be wiped out. The next key event: FOMC rate decision on June 17, which will directly influence the market direction.

🔻 Altcoins also red: SOL, XRP both fall

Mainstream altcoins follow Bitcoin’s weakness:

Solana (SOL) currently at $65.43 (-1.45%), with a 24-hour range of $68.17 to $64.98. The 14-day high was $85.49 on 5/26, and the low was $60.98 on 6/6, now consolidating above the bottom.

Ripple (XRP) at $1.1536 (-0.48%), with a relatively narrower decline. Recent peak was $1.36 on 5/30, and the bottom hit $1.06 on 6/6, now stabilizing around $1.15.

😱 Fear index 10, US stocks rebound but crypto diverges

Crypto fear and greed index today is 10 (Extreme Fear), up from 8 yesterday, and 23 a week ago, indicating a rapid deterioration of sentiment within a week.

Notably, US stocks rebounded on Monday (6/8): S&P 500 rose 0.3% to 7,405.73, Nasdaq gained 0.86% to 25,929.66, led by chip stocks. However, the crypto market did not benefit in tandem, showing clear divergence, with capital continuing to withdraw from digital assets.

Tomorrow (6/10), the US May CPI data will be officially released. If inflation exceeds expectations again, the Fed’s hawkish stance could be further reinforced, possibly intensifying pressure on crypto markets. To halt the decline, bulls need clear macro data signals or ETF fund inflows.