130k people liquidated, 6.3 billion USD fleeing, a big test of 10.6 billion options tomorrow

——60k dollars, the last line of defense

Yesterday, the crypto world was bloodied again.

137k people liquidated, 650 million USD vanished into thin air. 97% are longs.

BTC dipped as low as 61,880. ETH even worse, dropped 6% in a day, directly breaking 1700.

You think it’s over?

Tomorrow is the real big test.

Triple bearish signals will press longs to the ground and grind them down

First: AI collapse, emotional contagion.

Nasdaq tech stocks were bloodbathed—Alphabet down 5%, Amazon nearly 5%, Meta down 2%.

SpaceX plummeted 16% in one day, market cap evaporated 400 billion USD.

KOSPI index in Korea dropped 10% directly.

Bitcoin is not leading the decline; it’s being dragged down by this global “AI trading liquidation wave.” But the result is the same.

Second: ETF net outflows for six consecutive weeks, fleeing 6.35 billion USD.

This is the largest 30-day net outflow since ETF listing in January 2024.

BlackRock IBIT, Fidelity FBTC, Grayscale GBTC—several top products—all bleeding.

Institutions are fleeing, and faster than ever. Market confidence is being eroded.

Third: 10.6 billion USD options expiring tomorrow, 80% already worthless.

The biggest pain point is at 74,000. But current price is over 62k.

This means market makers have no motivation to push prices up. They only need to keep prices low, let most call options expire worthless, and pocket the profits.

60k dollars will be the final line of defense

Wintermute’s report says: 59k is the most important technical support now. If it breaks, the market could go further down.

Analyst Merlijn Trader warns: liquidity above BTC is thin, and below 60k there’s a bigger liquidation wall.

On Polymarket, the probability that BTC stays above 56,000 on June 24 is 99.75%. But the probability above 64,000 drops to 62.5%, and above 66,000 only 18.5%.

Market hopes for an upward move are already slim.

The only good news? Miner cost lines are between 60k and 62,000, and the 200-week moving average is nearby. Historically, these two levels have often marked the bottom of bear markets.

But “historically” never means “this time.”

Tomorrow, what will you choose?

Before Q2 options settlement, three paths lie ahead:

① Reduce positions to hedge

Tomorrow’s PCE data release, combined with 10.6 billion options expiring. Volatility will be so high you’ll question your life.

Preserve your capital, wait for the dust to settle before entering.

② Wait until after settlement to re-enter

After June 26, the biggest uncertainties are removed. If 60k can hold, opportunities for right-side trading may come.

③ Trade against the trend

If you believe 60k is the bottom, now is indeed the time when others are fearful and you are greedy.

Finally, a word:

From the 126k high, BTC has already fallen nearly 50%.

ETF funds worth 6.35 billion USD have fled.

137k people have been liquidated.

Tomorrow, 10.6 billion USD options will settle.

Can 60,000 hold? No one knows.

But I know one thing:

In this market, surviving longer is a thousand times more important than earning more. #0成本拿2股SK海力士 #Gate股票7x24小时交易 #TradFiCFD黄金大师赛 $BTC $ETH $SOL