Cryptocurrency market today, June 3rd: Bitcoin loses momentum.

(NLĐO) - In the short term, the $65,000 - $66,000 range may help Bitcoin's price recover slightly, but the possibility of it falling to $60,000 remains very high.

On the evening of June 3rd, the cryptocurrency market experienced a sharp decline. Data from the OKX exchange shows that Bitcoin fell by more than 3% in the past 24 hours, to $67,000.

Other cryptocurrencies like Ethereum and Solana fell 5%, XRP dropped over 2.3%, while BNB declined by over 6%.

According to Cointleegraph , Bitcoin's price has fallen 8%, reaching a nine-week low of $65,360, from a peak of $71,300 set on Tuesday, amid rising geopolitical risks related to the US-Iran conflict.

Data from TradingView shows Bitcoin hitting a new low of $65,362 on Bitstamp, its lowest level since March 29th, as selling pressure continued to prevail. Compared to its recent peak of $82,800, the price has fallen a total of 21%, accompanied by a strong wave of liquidation in the market.

Over $1.58 billion worth of long positions were forced to close, with Bitcoin alone accounting for $774.2 million. Ethereum ranked second with $440 million in liquidations.

In total, approximately $1.83 billion has "vanished" from the market, including both buy and sell positions. This is the largest liquidation since February 6th, when Bitcoin plummeted below $60,000.

Analysts say this was one of the most volatile trading sessions in recent months.

Data from several major exchanges shows this is the largest liquidation of long positions since the "black swan" event in October. However, the scale is still lower than the $1.6 billion recorded during the Covid-19 crash in 2020, suggesting the market has matured.

Bitcoin is currently in the $67,000 range. Source: OKX

Meanwhile, the amount of Bitcoin deposited on Binance, the world's largest exchange, has risen to its highest level in three months, reaching 659,000 Bitcoin.

According to experts, the increase in supply on the exchange could intensify selling pressure, especially when prices are falling and the market is highly volatile. If this trend continues, price volatility could be even greater.

Bitcoin is currently believed to be entering a new distribution phase, with increased inflows onto exchanges amid heightened market anxiety.

Cointelegraph reports that after falling to around $65,000, investors are watching for price levels that could provide support.

Some experts believe that the area below $66,000 is noteworthy, with the $61,000 mark considered a key support level in the medium term. This is also an area where buying pressure could return.

In the short term, the $65,000-$66,000 range could see a slight price recovery. However, the likelihood of Bitcoin retesting the $60,000 mark remains very high.

Many believe that buyers will try to defend the $60,000 mark, because if this level is breached, Bitcoin could enter a new downtrend.

Source: https://nld.com.vn/thi-truong-tien-so-hom-nay-3-6-bitcoin-mat-phanh-196260603200648089.htm