Bitcoin rebounded from intraday low of $61,500 mark to $64,000 mark on Thursday, Nearly $1.76 billion Bitcoin have been liquidated in the past 24 hours. The cryptocurrency was trading at $64,564 mark.In the past 24 hours, Bitcoin fell 3% whereas Ethereum fell 2% to trade at $1,809 mark. Among the major altcoins, BNB, XRP, Solana, Dogecoin, Cardano corrected up to 5% whereas Tron and Hyperliquid were up 0.7% and 4% respectively.Also Read | Planning early retirement at 50 with a Rs 12.5 crore corpus? Expert explains how to generate Rs 2 lakh monthly income Crypto TrackerTOP COINS (₹) 96 (-0.06%)96 (-0.09%)171,119 (-4.35%)6,105,965 (-4.96%)57,745 (-5.94%)Riya Sehgal, Research Analyst, Delta Exchange said the latest crypto market selloff appears to be a result of multiple pressure points hitting the market at the same time. Bitcoin’s sharp move toward the $61,000–$63,000 zone, with an intraday low near $61,500, and Ethereum’s break below $1,800, with an intraday low around $1,730, reflect a strong risk-off phase driven by heavy ETF outflows, long liquidation cascades, geopolitical uncertainty, and a clear technical breakdown below key support levels.According to CoinGlass data, nearly $1.76 billion worth of positions were liquidated in 24 hours, with over 284,000 traders impacted, highlighting the scale of leverage unwinding in the system, Sehgal further said.The global crypto market capitalisation edged down 2% to $2.24 trillion, according to CoinMarketCap. The maker sentiments continue to remain under fear as fear and greed index is currently at 25, said CoinDCX Research Team.In the past week, Bitcoin and Ethereum corrected 12% and 9% respectively. Among the major altcoins, BNB, XRP, Solana, Tron, Dogecoin, and Cardano fell upto 13% whereas Hyperliquid was up 30%.Vikram Subburaj, CEO, Giottus said Bitcoin remains under pressure as institutional selling and macroeconomic uncertainty continue to weigh on risk assets. The world’s largest cryptocurrency traded near $62,000-$63,000 on June 4, extending a decline that has pushed it more than 15% below the levels seen just a few weeks ago.He further said that the loss of ETF demand has removed an important source of buying support that helped drive Bitcoin’s rally during the first half of the year and markets are closely watching upcoming US labour market and inflation data ahead of the June 16-17 Federal Reserve meeting.Also Read |Every mutual fund offers positive XIRR on SIP investments in 5 years. Did you exit too soon?Market perspectiveCoinSwitch Markets DeskBitcoin’s break below $65K shows that the market is still digesting weaker ETF flows, Strategy’s Bitcoin sale, and capital shifting toward AI-linked equities. The move does not necessarily change the long-term thesis, but near-term momentum has clearly softened as BTC lacks a strong spot-demand trigger and leverage remains elevated.WazirX Market’s DeskIndustry reports indicate that institutional and retail investors might be temporarily allocating their money out of crypto, resulting in liquidity outflows from Bitcoin ETFs that reached over a billion dollars last month.Technical indicators are currently bearish for Bitcoin. The next few days are critical for Bitcoin as markets are watching the $60k levels closely. If Bitcoin holds up above $62k, it could bounce back to $65k levels easily. Ethereum which is 23% down since its levels last month is facing challenges due to base layer fee turbulence.Avinash Shekhar, Co-Founder & CEO, Pi42 Bitcoin’s slide below the $63,000 mark reflects a phase of heightened caution across global markets, with over $1.1 billion in liquidations amplifying the downward move. Such sharp corrections are not uncommon in crypto cycles, particularly after extended periods of strong price appreciation.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@timesinternet.in along with your age, risk profile, and Twitter handle.