Bitcoin Crashes to $63,000 as June Selloff Accelerates Below Key Supports

Bitcoin has extended its steep decline into early June, trading near $63,000 on June 5 after breaking decisively below the $73,000 level on June 1. The selloff began with repeated rejections at the 200-day moving average near $81,000–$82,000 throughout May, followed by a break below the 50-day MA on May 28 that triggered accelerated losses. Spot Bitcoin ETF outflows reached $1.55 billion while on-chain demand metrics turned sharply negative, trimming total crypto market capitalization to $2.44 trillion. Analysts now warn of further downside toward the mid-$50,000s if $60,000 fails to hold.