Open interest has risen to 773,000 BTC, one of the highest readings on record, while funding rates remain elevated despite weak spot demand and growing market fear.

MN Trading Capital founder Michael van de Poppe said Bitcoin risks facing a decline to $65,000 if it doesn’t hold at its current level of $73,000.

Spot and futures volumes surged as Bitcoin price swept its range lows but ETF redemptions and liquidations are the dominant force in the markets at the moment.

Bitcoin derivatives show $40B in futures OI and $40B in options OI as traders eye June 26 expiry and max pain levels.

Bitcoin closed May at $73,568 as Benjamin Cowen, PlanB, and Crypto Rover warn of a possible slide toward $60,000.

Bitcoin price today falls to a two-month low near 70,000 as Strategy sells BTC, ETF outflows hit a record, and crypto diverges from record-high equities.

Bitcoin drops below $70K, wiping out $450M in leveraged positions after a controversial BTC selloff by Strategy sparks market panic.

Open interest has risen to 773,000 BTC, one of the highest readings on record, while funding rates remain elevated despite weak spot demand and growing market fear.

Bitcoin falls under $70,000 as sellers dominate, fear spikes and onchain data points to a fresh distribution phase.