- Minimum 4 months: asset value has fallen $61,309 A slight rebound occurred within the past 24 hours.
- Huge profit taking: Wallet identified as “”pension-usdt.eth” has closed 1,400 $BTC short, take profit $3.56 million.
- Record of liquidation: Derivatives market posted losses $634.6 million Result only from bullish positions that are liquidated.
The bearish momentum over the past 24 hours has been bitcoin price intensified after losing the floor of $70,000. Pioneer Cryptocurrency Comes to Touch $61,000for a minimum of 4 months. At the time of writing this information, the price is around $63,500, implying an intraday decline of 4.7%.
This retreat to levels not seen since February caused a sharp increase in derivatives market activity and forced whales to restructure their business positions.
Strategic moves in the derivatives market
As the value of cryptocurrencies has fallen, contracts that bet on the downside have become very profitable. Data from the on-chain lens analysis platform shows that the whale’s address ispension-usdt.eth” completely closed 1,400 $BTC What is the value of a short position? $93.8 million dollar.
Whale “pension-usdt.eth” has been permanently closed $BTC Earn $3.56 million on short positions.
He also opened a new $50,000 ETH (3x) short position (value: $89 million) and has already made more than $4.5 million in profit. Its profits now exceed $39.6 million. https://t.co/ohgVO05G88 pic.twitter.com/wzeWq8tT45
— Onchain Lens (@OnchainLens) June 4, 2026
Following this, the trader extended his winning streak to 21 trades. According to blockchain records, this latest withdrawal resulted in a net profit of $3.56 million dollar. Then the same funds Ethereum ecosystem. The surge in positive returns on short positions suggests that sellers are in firm control over current price movements.
In parallel, retail and institutional traders continued to enter into new selling contracts. Bitcoin’s Long/short ratio fell back to the level of 0.94. According to market reports, most participants maintain a bearish stance and expect further declines in the short term.
Millions of dollars in losses and technical pressure on support
While downside-oriented traders booked profits, investors aiming for upside experienced massive losses. Analysis by On-Chain Lens shows that operator Garrett Jinn’s position has recorded a negative floating balance. Their long-term contracts are 5x leveraged. Bitcoin Accumulates unrealized losses exceeding $17 million dollar.
Despite the deterioration in balances, investors continue to operate their businesses. Network metrics show they paid $153,000 in funding fees to avoid collateral enforcement.
However, a significant number of participants were unable to escape forced closure of their accounts. According to statistics compiled by CoinGlass, Bitcoin liquidation reached $752 million dollars all over the world on the last day. Of these numbers, the total is $634.6 million The dollar corresponds exclusively to long term contract Destroyed by a fall.
The technical situation of cryptocurrencies shows that the bearish strength indicators are continuously increasing. Average direction index (ADX) and simple moving average (SMA) in negative numbers rose to a new high of 47 points. At the same time, the general ADX indicator increased to an integer of 38, while the positive directional indicator decreased to 6 units.
Previous analytical results demonstrate that there is significant downward pressure when the momentum oscillator is configured in this way. Technical analysts suggest that this scenario typically predicts a continuation of the current bearish structure.
If the current market situation continues, the price may break through the psychological barrier. $60,000 We will move towards the technical level of $58,600. To counteract this negative bias, assets must be reused. $70,000 and solidify the daily closing price above the resistance line. $74,000.
Movement of inflow to institutional investors Bitcoin ETF Exchange-traded funds (ETFs) as of the end of this week will be the next verifiable milestone in determining the sustainability of current support.
