Bitcoin Stabilizes Near $63K After $61.4K Low on Heavy ETF Outflows

Bitcoin has stabilized around $62,880 into the June 5 weekend after plunging to a local low of $61,400 on June 4. The sell-off began from above $82,000 in late May and accelerated through key supports at $72,000 and $66,000. Drivers included $1.42 billion in weekly ETF outflows, $2.43 billion in May redemptions, and MicroStrategy’s rare 32-BTC sale. Technical indicators turned deeply bearish with RSI at 22.7, an intact death cross, and a bear-flag pattern projecting toward $50,000 unless price swiftly reclaims $70,000–$72,000.