Why Is the Crypto Market Down Today – Bitcoin Hits $61,000 and $1.16 Billion in Longs Get Wiped
June 5, 2026 · 9:25 AM
Key Takeaways Bitcoin fell to $61,100 overnight, down 26% from the May 6 peak, as $1.16 billion in leveraged positions were liquidated Five catalysts hit simultaneously: Iran, Strategy selling, Mt. Gox transfers, ETF outflows, and AI IPO rotation Kalshi now gives 80% probability Bitcoin breaks $60,000, which would mark a new 2026 low Bitcoin is [...] The post Why Is the Crypto Market Down Today – Bitcoin Hits $61,000 and $1.16 Billion in Longs Get Wiped appeared first on DailyCoin Post.
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