Bitcoin Crashes to $61K on Iran Strikes, $420M Liquidated as CPI Looms

Bitcoin tumbled to approximately $61,757 on June 9 after U.S. military strikes against Iran sparked a fresh wave of risk-off selling, triggering over $420 million in liquidations — $324 million from long positions — and briefly touching the critical $61,000 support level. The collapse traces back to a May peak above $82,300, with successive breakdowns through $78,000, $73,000, $70,000, and $65,000 driven by $1.26 billion in spot-ETF outflows and deteriorating macro conditions. RSI sits at a deeply oversold 25.60, and CryptoQuant's CEO warns the bearish cycle could extend into early 2027. Markets now hinge on the June 10 CPI print and June 11 Fed meeting, with analyst van de Poppe eyeing a rebound to $72,000–$74,000 if $65,000 resistance clears, while a break below $61,000 risks a slide toward $58,000–$50,000.