The price of Bitcoin fell 5.5% to $61,322 in early trading today, the lowest level for the cryptocurrency since February 6, before surging above $64,000 by midday, now settling at $63,300.
These price movements completed a full cycle of ups and downs, completely erasing every basis point of the gains Bitcoin made over the past three months driven by news of conflicts in the Middle East.
BREAKING: The Bitcoin sell-off accelerates, falling below $63,000 for the first time since February 24.
Over $1.1 billion in leveraged crypto positions have been liquidated in the past 24 hours. pic.twitter.com/lgko3fP25s– Kobeissi Letter (@KobeissiLetter) June 4, 2026
The disappearance of the geopolitical risk premium does not only concern the price level; This is a live test of the “digital gold” hypothesis, and the test results were, once again, disappointing.
Bitcoin has failed to maintain its value amid renewed tensions in the Middle East. Rather, it was exposed to intense selling coinciding with high-risk assets and then rebounded with them later. This behavior reflects the trend of risk assets rather than that of safe havens.
Bitcoin News: BTC support between $60,000 and $65,000 is now the dividing line
Data shows that Bitcoin’s current critical support zone lies between $60,000 and $65,000, with the price currently moving directly within this range.
Specifically, the price of BTC has fallen below the short-term holder’s realized price, the average purchase cost for new buyers, which historically represents a fulcrum between continuing an uptrend or a deep reversion to the mean.
A clear break of the $61,000 level at the close would open the door to the next structural level near $58,000.
Although the chart structure is damaged, it is not completely broken yet. The 20-day moving average was breached during the decline, during a technical cleanout that coincided with a $1.85 billion liquidation event that hit leveraged long positions.
As for institutional flows via spot ETFs, which were the main driver of strong net purchases at the start of 2026, they have transformed into bidirectional flows; Several days of sharp outflows punctuated what was previously a one-way story of accumulation.
If Bitcoin can consolidate in the $61,000-$62,000 area, with funding rates resetting into the negative range and short position holders stabilizing, we could see a bullish rally towards $68,000.
In the absence of macroeconomic stimuli, Bitcoin is expected to enter a consolidation phase between $62,000 and $65,000, while markets await US employment data or Federal Reserve statements to determine the next trend.
A daily close below $61,000 remains a red flag that could trigger a second wave of decline towards $58,000, where the cost of long-term holders and previous assembly zones provides the next real support.
The post Bitcoin Falls to $61,000, Loses Gains Due to Geopolitical Tensions appeared first on Cryptonews Arabic.