{"id":73393,"date":"2026-06-01T13:59:45","date_gmt":"2026-06-01T13:59:45","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/tense-selloff-puts-60000-in-focus-as-bitcoin-struggles-under-72000\/"},"modified":"2026-06-01T13:59:45","modified_gmt":"2026-06-01T13:59:45","slug":"tense-selloff-puts-60000-in-focus-as-bitcoin-struggles-under-72000","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/tense-selloff-puts-60000-in-focus-as-bitcoin-struggles-under-72000\/","title":{"rendered":"Tense Selloff Puts $60,000 in Focus as Bitcoin Struggles Under $72,000"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<p><span style=\"font-weight:400\"><\/p>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Bitcoin closed May at $73,568, and PlanB says data shows a greater than 50% chance of prices heading lower. As of June 1, BTC dropped below the $72,000 range to $71,461.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Benjamin Cowen expects BTC to tag $70,000, bounce for days, then retest February\u2019s roughly $60,000 low.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Crypto Rover flagged a \u201ctextbook bearish flag,\u201d echoing the February flush from $90,000 to $60,000.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p><\/span><\/p>\n<h2><span style=\"font-weight:400\">A Market Caught at $73,000<\/span><\/h2>\n<p><span style=\"font-weight:400\"> <span>Bitcoin<\/span> <\/span><a href=\"https:\/\/x.com\/100trillionUSD\/status\/2061349594680684906\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight:400\">closed May at $73,568<\/span><\/a><span style=\"font-weight:400\"> and has hovered just above that line into June as traders are divided as to what comes next for the asset. The level matters because it sits at the lower edge of the range that has contained the price for weeks, and because a decisive break could accelerate selling toward levels not seen since the winter.<\/span><\/p>\n<p><span style=\"font-weight:400\">The most detailed <span>bearish<\/span> roadmap came from data analyst and Founder &amp; CEO of ITC Benjamin Cowen, who believes trying to figure out <span>BTC<\/span>\u2019s short-term price action at the moment is \u201cakin to a random walk,\u201d <a href=\"https:\/\/x.com\/benjamincowen\/status\/2061315107502604713\" target=\"_blank\" rel=\"noopener noreferrer\">adding<\/a>:<\/span><\/p>\n<blockquote>\n<p>\u201cIf I had to guess, I would guess that <span>BTC<\/span> tags $70k soon, then gets a small bounce. But after the bounce is over (likely a few days to a week or so), I do think <span>BTC<\/span> will head back to the lows from February 2026. If I\u2019m wrong about <span>BTC<\/span> revisiting the lows from February, I will quote tweet this and simply say \u201cI was wrong.\u201d And then I will let every bull dunk away.\u201d<\/p>\n<\/blockquote>\n<p><span style=\"font-weight:400\">The call seems to be fairly consistent with his recent stance, where he characterized <span>BTC<\/span>\u2019s last recovery (to hold $75,000) as a \u201c<\/span><span style=\"font-weight:400\">dead cat bounce<\/span><span style=\"font-weight:400\">\u201d rather than the start of a new leg higher, citing reasons such as restrictive <span>liquidity<\/span>, elevated real yields, and the Federal Reserve being in no hurry to cut interest rates.<\/span><\/p>\n<h2><span style=\"font-weight:400\">Even PlanB Sees Better-Than-Even Odds of Lower Prices<\/span><\/h2>\n<p><span style=\"font-weight:400\">The more surprising voice in the cautious camp has been PlanB, the pseudonymous creator of the stock-to-flow model that maps <span>bitcoin<\/span>\u2019s price to its scarcity and has long underpinned six-figure forecasts. After noting <span>bitcoin<\/span>\u2019s close at $73,568 for May, PlanB wrote that the \u201cmarket is 50\/50 on if February $60k was the bottom, or the bear will continue.\u201d<\/span><\/p>\n<figure id=\"attachment_818985\" aria-describedby=\"caption-attachment-818985\" style=\"width:2560px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-818985\" class=\"wp-caption-text\">The amount of time since its inception that <span>BTC<\/span> has remained in the green, per PlanB<\/figcaption><\/figure>\n<p><span style=\"font-weight:400\">The notably guarded message is being interpreted as worrisome since the analyst\u2019s long-run model previously sketched a path toward <\/span><span style=\"font-weight:400\">roughly $500,000<\/span> late last year<span style=\"font-weight:400\">, implying near-term mood has soured even among structural bulls.<\/span><\/p>\n<p><span style=\"font-weight:400\">Rounding out the trio, <span>Crypto<\/span> Rover <a href=\"https:\/\/x.com\/cryptorover\/status\/2061327634437648545\" target=\"_blank\" rel=\"noopener noreferrer\">warned<\/a> that <span>bitcoin<\/span> \u201cjust printed a <\/span><span style=\"font-weight:400\">textbook <span>bearish<\/span> flag on the daily<\/span><span style=\"font-weight:400\">,\u201d describing the pattern as \u201cone of the most reliable continuation signals in <span>technical analysis<\/span>.\u201d The widely followed account drew a direct parallel to recent history, noting that the last time <span>BTC<\/span> printed the same structure was \u201cthe February flush from $90K to $60K.\u201d <\/span><\/p>\n<p><span style=\"font-weight:400\">As <span>Bitcoin.com<\/span> News documented in a <\/span><a href=\"https:\/\/news.bitcoin.com\/bitcoin-2026-prediction-roundup-saylor-at-1m-hayes-at-125k-brandt-at-60k-low\/\"><span style=\"font-weight:400\">2026 prediction roundup<\/span><\/a><span style=\"font-weight:400\">, estimates still range from Michael Saylor\u2019s $1 million long-term call to veteran trader Peter Brandt\u2019s warning of a $60,000 low, but the near-term consensus among these closely watched voices has tilted decisively <span>bearish<\/span>.<\/span><\/p>\n<h2><span style=\"font-weight:400\">ETF Outflows and a Hawkish Fed Set the Tone<\/span><\/h2>\n<p><span style=\"font-weight:400\">The cautious tilt is rooted in major financial bleeding as spot <span>bitcoin<\/span> exchange-traded funds (ETFs) closed May with the <\/span><a href=\"https:\/\/beincrypto.com\/bitcoin-price-prediction-june-2026\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight:400\">largest monthly net outflow of 2026<\/span><\/a><span style=\"font-weight:400\">, the steepest since November 2025. Moreover, funds also <\/span><span style=\"font-weight:400\">lost $1.26 billion in a single week,<\/span><span style=\"font-weight:400\"> even as <a href=\"https:\/\/www.binance.com\/en\/price\/xrp\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">XRP<\/a> and HYPE products drew fresh money (<\/span><span style=\"font-weight:400\">Blackrock and Ark alone <\/span><a href=\"https:\/\/news.bitcoin.com\/blackrock-and-ark-drive-1b-bitcoin-etf-selloff-as-xrp-demand-accelerates\/\"><span style=\"font-weight:400\">drove a $1 billion<\/span><\/a><span style=\"font-weight:400\"> selloff as demand rotated elsewhere).<\/span><\/p>\n<p><span style=\"font-weight:400\">Onchain data has deepened the unease, with <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-are-bitcoin-whales\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">whales<\/a> and long-term holders showing signs of distribution rather than accumulation. Combined with a Fed that has shown no urgency to ease, the result is a market short on the fresh demand it would need to break decisively higher.<\/span><\/p>\n<p><span style=\"font-weight:400\">Whether <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a> can defend the all-important $73,000 threshold will mean that bulls can argue their range is still intact, but if sustained dips continue, <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">BTC<\/a> could retest its $60,000 February low.<\/span><\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/bitcoin-60000-drop-72000-standoff\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Bitcoin closed May at $73,568, and PlanB says data shows a greater than 50% chance of prices heading lower. As of June 1, BTC dropped below the $72,000 range to $71,461. Benjamin Cowen expects BTC to tag $70,000, bounce for days, then retest February\u2019s roughly $60,000 [&hellip;]<\/p>\n","protected":false},"author":3947362404,"featured_media":73394,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73393"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362404"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=73393"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73393\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/73394"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=73393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=73393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=73393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}