BTC $61,305 (-2.87%) | June 6, 2026

Bitcoin fell 2.9% to $61,305, breaking below $60,000 for the first time since October 2024.Not noise. ETF outflows ended their 13-day streak while funding rates hit -3.2% annualized, showing institutional selling exhaustion amid heavy short positioning that creates squeeze potential.

Bitcoin ETFs recorded first positive inflows ($3.05M) after 13 consecutive days of outflows totaling $4.4 billion
Perpetual funding rates turned negative at -3.2% annualized as $2.6 billion in short positions built up
Jobs data showed 350,000 new payrolls versus 185,000 expected, strengthening dollar and raising Fed rate hike prospects
Network fundamentals remain solid with hashrate at 911 EH/s and low fee environment supporting long-term adoption

Market Snapshot

Market Cap

$1.23T

24h Volume

$75.41B

Dominance

56.0%

Macro Context

How Bitcoin fits into the macro picture

Bitcoin fell alongside risk assets as stronger-than-expected jobs data (350,000 vs 185,000 expected payrolls) strengthened the dollar and raised Fed rate hike expectations. The 0.42 correlation with S&P 500 over 90 days shows Bitcoin still trading as a risk asset rather than safe haven. AI capital rotation continued pressuring crypto as Broadcom's chip outlook disappointed, unwinding tech momentum trades.

Bitcoin's 90-day correlation with S&P 500 at 0.42 shows continued risk-asset behavior, falling in line with equities on macro headwinds.

BTC vs Everything

Asset	24h	YTD	BTC Edge
SPXS&P 500	-2.64%	+6.41%	-38.23%
QQQNASDAQ-100	-4.77%	+13.33%	-45.15%
XAUGold	-3.35%	-7.64%

Market Snapshot

Macro Context

BTC vs Everything

Top Stories