Crypto Prices Today: Bitcoin Steadies Near $62,614 as Record ETF Outflows, Fed Rate Hike Fears Grip the Market
Bitcoin stabilized near $62,614 after dropping to a 2026 low of $59,100 amid stronger US jobs data and Fed rate hike fears, while record $4.33 billion in Bitcoin ETF outflows and $1.7 billion in crypto liquidations deepened market uncertainty. Analysts note oversold conditions and regulatory shifts, like Senate-backed banking rule changes, as potential catalysts for recovery, with key resistance at $64,500–$65,000 and support at $60,000.
Bitcoin traded near $62,614 on Monday after plunging to a 2026 low of $59,100, driven by stronger-than-expected US nonfarm payrolls data on June 5, which strengthened expectations of prolonged Federal Reserve rate hikes. The selloff triggered $1.7 billion in crypto liquidations within 24 hours and extended a 13-day streak of record Bitcoin ETF outflows totaling $4.33 billion, pushing the Fear & Greed Index into extreme fear territory. The broader crypto market cap sits at $2.18 trillion, with Bitcoin dominance near 58.10%, though trading remains volatile below key moving averages. Immediate resistance lies between $64,500 and $65,000, while a break below $60,000 could accelerate a slide toward $57,500. Analysts at Mudrex highlighted Bitcoin’s oversold technicals, with its daily RSI hitting 15.5—a level last seen during the March 2020 crash—suggesting potential rebounds of 30–50% if historical patterns repeat. Regulatory developments offer a glimmer of hope: six US senators proposed easing bank capital rules for Bitcoin, which could improve institutional access to digital assets. Meanwhile, traders await the Fed’s policy meeting, with Fed Chair Kevin Warsh’s first participation adding to market uncertainty. WazirX Market’s team noted dip-buying and long-term accumulation amid oversold conditions, despite persistent downside pressure. Ethereum led the biggest gainers among cryptocurrencies, though the broader market remains under strain. The Nasdaq 100 also posted its worst session since Liberation Day, reflecting macro-driven risk aversion. Bitcoin’s 7-day drawdown stands at 14.66%, with 24-hour trading volume at $37.01 billion, signaling active but cautious participation as the asset tests critical support levels.
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