Many traders expect Bitcoin to stage a short-term relief bounce toward $70,000, but the overall picture still remains bleek for the BTC bulls in the short term.

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

Bitcoin continues June with a dip below $70,000, its first since mid-April, as crypto markets spark $800 million in liquidations over 24 hours.