Bitcoin drops below $63K as crypto selloff accelerates amid $1.6 billion in liquidations
first published 2026-06-03T15:29:38Z
Bitcoin’s BVIV fear gauge jumped 20% in 24 hours to 46.45%, its largest daily increase since Feb. 5, as traders bought downside protection amid a broader crypto selloff. Bitcoin fell 6% on the day and 10% over the past week, Ethereum also weakened, and some analysts are now watching for a possible move toward $50,000.
AI Analysis
The summary reports a sharp rise in downside protection, a 6% daily BTC drop, a 10% weekly decline, and analyst downside targets, all of which point to near-term bearish pressure and potentially high short-term trading relevance.
Expected Investor Sentiment: Very Bearish
Potential Market Impact: High
Source Articles
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