Doomsday Bell! 684 Million Long Liquidation Bomb Countdown, Will BTC Break 58K Before Nonfarm?

Fear index plummets through the floor—what's flowing out isn't tears, but the ashes of leveraged traders.

On the news front, ETFs have seen net outflows of $4.33 billion for 13 consecutive days, a record; the Fed remains hawkish and inactive. Thursday's US June nonfarm payrolls will be the last key data before the July meeting. If employment exceeds expectations, BTC could fall straight to 57K. Although US-Iran talks may ease oil prices, they cannot stop institutional flight.

BTC lost 60K yesterday, hitting a low of 58,888, with $173 million liquidated in 24 hours—longs accounted for $140 million, shorts dominated. The 1-hour chart shows price consolidating on low volume near 60,100 with an order book ratio of -37.95%, sell pressure overwhelming. The 4-hour MACD shows a weak golden cross but lacks momentum—a typical mid-decline consolidation, far from a bottom. The liquidation map reveals that if BTC breaks below 56,975, the cumulative long liquidation intensity on major CEXs reaches $684 million, with countless bombs buried below.

Strategy

Short: around 60,200-60,500, target 59,000-58,200

Long only for oversold bounces: around 58,500-58,800

Personal view: 60k has shifted from support to strong resistance—any bounce is a good opportunity to short; do not go against the trend to buy the dip.
‍$BTC #美国5月PCE通胀升至4.1%创三年新高