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Bitcoin falls below $62,000 to $61,126.01 as funding rates turn bearish

Bitcoin falls below $62,000 to $61,126.01 as funding rates turn bearish

The drop under a closely watched round-number support level on June 5 coincided with weaker funding rates across major centralized and decentralized exchanges, signaling deteriorating short-term sentiment.

BTC

Fact Check
Both verified sources confirm Bitcoin fell below the $62,000 threshold in early June 2026. The Moneyweb news report independently corroborates the Watcher.Guru social media post linked in the claim, citing a drop of more than 5% to the lowest level since February 6 amid risk-off sentiment tied to Middle East tensions.
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Summary

Bitcoin fell below the closely watched $62,000 level on June 5, dropping as low as $61,126.01. The move breached a round-number threshold that traders often treat as short-term support, while Coinglass data showed funding rates across major CEXs and DEXs had turned bearish. The article cites 0.01% as a neutral-to-bullish funding-rate benchmark, with readings above that level signaling bullish sentiment and levels below 0.005% indicating bearish positioning. Together, the price break and weaker derivatives-market readings pointed to fading upside demand and softer near-term market sentiment.

Terms & Concepts
  • funding rates: Periodic payments in perpetual futures that reflect whether long or short positions dominate.
  • support: A price area traders watch as a potential floor.
  • CEXs and DEXs: Centralized exchanges are company-run trading venues, while decentralized exchanges use smart contracts for trading.