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Bitcoin falls below $60,000 as jobs data, ETF outflows and liquidations hit crypto

Bitcoin falls below $60,000 as jobs data, ETF outflows and liquidations hit crypto

June 6 risk aversion pushed Bitcoin to roughly $59,770-$61,100 and Ether to about $1,524-$1,585, while extreme-fear sentiment, 13 straight days of spot Bitcoin ETF outflows and $1.829 billion in liquidations deepened the sell-off.

BTC
ETH

Fact Check
Every element of the claim is directly corroborated: (1) BTC fell below $60,000 — confirmed by Crypto_Potato citing $59,828 on June 5, 2026; (2) BTC broke its 200-week MA for the first time since June 2022 — confirmed by BitcoinArchive; (3) over $1B in liquidations — confirmed by CoinPost; (4) David Hoffman downplayed Strategy risk relative to past systemic crises — directly stated in his own tweet (@TrustlessState, 2026-06-04) and summarized by Odaily.
Summary

Bitcoin and Ether sold off sharply on June 6 as stronger-than-expected U.S. nonfarm payrolls data reduced expectations for near-term Federal Reserve easing, adding to pressure from continued spot Bitcoin ETF outflows and broader market risk aversion. Bitcoin fell to about $59,769.84 in one account and around $61,100 in another, briefly testing or slipping below its 200-week moving average, while Ether dropped to roughly $1,524.44-$1,585. The Alternative.me Crypto Fear and Greed Index fell to 12, signaling extreme fear, as total crypto liquidations reached $1.829 billion over 24 hours and total crypto market capitalization lost about $110 billion.

Terms & Concepts
  • 200-week moving average: A long-term price trend indicator based on the average price over 200 weeks and often watched as major-cycle support.
  • nonfarm payrolls: U.S. employment data excluding farm jobs that can influence expectations for Federal Reserve policy.
  • Fear and Greed Index: A market sentiment gauge from 0 to 100, with lower readings indicating greater investor fear.