Bitcoin dropped to $58,000 after $450 million in leveraged long positions were liquidated, with $1.6 billion more at risk if the key support level breaks.

Bitcoin dropped below $63,000 on June 3, triggering over $150M in long liquidations. ETF outflows hit $4.4B over 13 days as volatility surges.

BTC slips 3.6% amid a global market sell-off and record ETF outflows. Experts warn of a hard ceiling ahead of the $10.6B options expiry.