Cryptocurrencies Price Prediction: Bitcoin, Ripple & Ethereum – Asian Wrap 03 June
Crypto market bleeds $1.80 billion amid concerns of Bitcoin losing $65,000
The cryptocurrency market is under extreme bearish pressure, with Bitcoin (BTC) price inching closer to $65,000 and total liquidations over the last 24 hours surpassing $1.80 billion. Declining institutional confidence in Bitcoin, with outflows of roughly $4 billion since May 15, appears as the primary catalyst fueling the ongoing correction.
Bitcoin’s 6% drop on Tuesday triggered a massive market-wide wipeout of bullish positions. CoinGlass data show that liquidation over the last 24 hours totals $1.84 billion from 277,754 traders, including $1.66 billion in forced liquidations of long positions, reaffirming the sell-side bias. This marks the third-largest liquidation spree so far this year. Read more...
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC eyes $65,000, ETH risks $1,800, XRP holds at $1.20
Ripple is trading above $1.2200 at press time on Wednesday, but remains broadly bearish after the 6% drop the previous day. Similar to Bitcoin and Ethereum, XRP trades well below the 50-, 100-, and 200-day EMAs at roughly $1.3695, $1.4447, and $1.6431, respectively.
Bitcoin falls below $67K as capital rotates to US equities, institutional demand weakens
The crypto market has come under renewed pressure, with Binance Research citing capital rotation into US equities as a key driver of the heightened risk-off sentiment in Bitcoin. In an X post on Tuesday, Binance Research said the CBOE Dispersion Index has surged to 42, one of the highest levels on record. The spike signals that investor flows are increasingly concentrated in a small group of S&P 500 stocks.
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