Bitcoin slipped below $60,000 as more than $1 billion in crypto positions were liquidated ahead of a roughly $10 billion options expiry, with traders closely watching whether bulls can defend key support.

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.

Crypto market liquidations top $700M as bitcoin plunges below $62K. Analysts warn the rejection at $65,500 signals a further drop to $50K.