Bitcoin’s high-conviction holders sell $2.4B as price falls below $70K for first time since April

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Polymarket has finalized a disputed prediction market with a “No” outcome after 98.6% of voting power backed the decision in a final UMA review, despite Strategy disclosing that it sold 32 Bitcoin before the market’s May 31 deadline. According to…

Spot gold rose to $4,574 while Bitcoin faced $733M ETF outflows, a $1.29B IBIT block trade, and $958.8M in liquidations. Why the safe‑haven gap widened.

Naturally, roughly $1.35 billion out of the entire amount was from longs.

Bitcoin price fell below $63K as Iran tensions, ETF outflows and $1.1B liquidations pushed BTC near key support between $60K and $54K.

Ethereum prices have tanked to their lowest levels for more than a year as the crypto exodus continues.

Bitcoin has lost the $66,000 level as selling pressure and uncertainty intensify across a market that is now testing support levels not seen since the early stages of this year’s recovery. The breakdown is accelerating, and a CryptoQuant report has identified a specific pattern in the on-chain data that places the current selling in a historical context that traders will recognize immediately. Related Reading: Bitcoin Loses $70K While 10,300 BTC Leave Mt. Gox-Linked Addresses – Details Short-term holders are realizing losses at the strongest pace since early February. The “STH Loss to Binance” metric on Binance dropped to -16,400 BTC on June 2. Its deepest negative reading since February 6. As Bitcoin slipped below the $69,000 area. That specific date matters. February 6 marked one of the most intense capitulation sessions of the recent correction, a period when forced selling from recent buyers created the kind of price pressure that ultimately exhausted itself and preceded the recove