Bitcoin slid toward the $60,000 zone on June 5 as macro pressure and weak risk appetite extended the crypto market pullback.
Bitcoin moved back into a high-stakes test of the $60,000 area after a fresh risk-off wave hit crypto and technology-linked assets on June 5.
BTC fell toward the low-$60,000s on Friday, with CoinDesk reporting a slide near $62,000 during Asian trading and other market trackers showing a later push below or close to $60,000. Yahoo Finance data showed Bitcoin opening June 5 at $63,812.18, already lower than the previous session.
The pressure was not isolated to Bitcoin. Ether also weakened, while higher-beta tokens sold off more sharply as traders reduced exposure after a stronger-than-expected U.S. jobs report pushed rate-cut expectations further out.
The $60,000 area has become the market's cleanest psychological line. A hold would suggest buyers are absorbing forced selling after this week's liquidation wave. A decisive break would turn the June pullback into a broader test of spot demand, ETF flows, and confidence in crypto as a high-beta risk asset.
The move also links crypto more tightly to macro positioning. When technology stocks and AI-linked trades lose momentum, Bitcoin is again trading like a liquidity-sensitive asset rather than a detached store-of-value hedge.
Watch whether BTC can reclaim the mid-$60,000 range over the weekend and whether ETF flow data confirms renewed institutional buying. If the $60,000 zone fails to hold, traders will likely focus on leverage resets, exchange inflows, and ETH weakness for signs that stress is spreading beyond Bitcoin.
The selloff is still developing, but the next market signal is straightforward: Bitcoin needs to defend $60,000 quickly or the risk-off move could become the dominant crypto narrative into next week.
Wall Street giant Citigroup projects Bitcoin could reach $143,000 within 12 months, citing ETF demand and regulatory tailwinds as key catalysts.
Michael Saylor's Strategy reported a $14.46 billion unrealized loss on its bitcoin holdings in Q1 2026, then purchased another $330 million in BTC days later.
The largest US bank is assessing spot and derivatives trading services as regulatory clarity enables traditional finance to deepen crypto involvement.
Disclaimer: News content is for informational purposes only and should not be considered financial advice. Market conditions can change rapidly. Always conduct your own research.
