Bitcoin tests $60000 support as altcoins slide

A sharp wave of selling swept through cryptocurrency markets into June, triggering one of 2026’s largest liquidation events and pushing major tokens toward key technical support zones. Roughly $1.8 billion in leveraged positions were wiped out by June 2, with long positions making up more than $1.5 billion of that total and more than 272,000 traders forced out of positions.

The downturn coincided with a record streak of outflows from U.S. spot Bitcoin ETFs, with an estimated $2.8 billion to $3.5 billion withdrawn over about 11 consecutive days. Sentiment was further shaken after corporate holder Strategy disclosed its first Bitcoin sale in four years, undermining a long-running narrative of unbroken accumulation.

Bitcoin under pressure near key support levels

Bitcoin fell to $65,426 on Tuesday and briefly extended losses to an intraday low near $65,370 as selling pressure intensified. Charts now show a critical support band between $62,500 and $60,000, where some models suggest a potential rebound zone.

A decisive break below $60,000 would raise the risk of a slide toward $56,000, with some bearish projections extending as low as $50,000 if buyers step back. The expanding triangle pattern highlighted earlier in the week remains in focus; a confirmed move above $75,000 would cancel its bearish implications, while repeated failures near $65,000 could reinforce downside targets.

Options markets now reflect this caution, with pricing indicating lower odds of Bitcoin reaching higher targets in the near term.

Ether drops out of range, RSI shows deep oversold reading

Ether broke out of its earlier $1,916–$2,465 trading range to the downside, sliding below $1,900 for the first time in months amid broad deleveraging. Prices are now trading closer to the $1,800 area, with the 14-day Relative Strength Index deeply oversold at about 24.6.

Technicians see initial support near $1,750; a clean break under that level could extend losses toward $1,550. On the upside, former support near $2,509 has now turned into key resistance, likely to cap any recovery attempts in the short term.

BNB slips toward moving averages as June outlook narrows

BNB retreated back below $687 and moved toward its 50-day moving average around $645, at one point falling more than 5% in 24 hours to trade near $622. Forecasts for June now point to a wide but defined band between roughly $605 and $739, reflecting heightened uncertainty.

Technically, a break below $628 would keep the focus on the downside and could open the way toward $570. Alternatively, a sustained move above $745 would be needed to reestablish upward momentum, with potential follow-through toward $790 and possibly $900.

XRP eyes $1.20 support as policy backdrop stays in view

XRP broke its $1.27 support zone decisively, sliding to lows near $1.21. Market attention has shifted to the immediate support at $1.20; a failure to hold that level could leave the asset vulnerable to a drop toward $1.15 or even $1.00.

On the upside, a recovery above the downtrend line would be required to refocus attention on the $1.61 area. In the background, policy developments around the CLARITY Act remain a key narrative driver for future direction.

Solana confirms double-top, faces risk of deeper slide

Solana’s close below $76 confirmed a bearish double-top pattern on the daily chart, leaving the token in a more fragile technical position. Prices later dipped toward $72 as pressure persisted.

Current projections highlight downside potential toward the $67 area, and, if that zone fails, possibly into the low-$50 range. A rebound back above short-term moving averages would be needed to argue that the break below $76 was a false move rather than the start of a broader downtrend.

Hyperliquid and Zcash buck the broader market decline

Not all major tokens followed the market lower. Hyperliquid held relative strength, consolidating near $73 to $75 and at one point rising more than 4% while most of the market fell. A close above the $75 resistance zone could pave the way toward the $85–$89 region, while support remains near $64 and $59.41.

Zcash also outperformed, posting gains of around 2% to trade near $600 and staying above key moving averages. Technical analysis suggests that as long as prices remain above roughly $587, the bullish structure is intact. Sustained strength above $690 could open tests of $750 and $856, with some models pointing to potential upside toward $928 if momentum holds. A drop below the neckline of its head-and-shoulders pattern, however, would warn of a short-term top.

Dogecoin clings to range floor, consolidation at risk

Dogecoin continues to trade near the lower end of its established $0.09–$0.12 band, hovering around $0.091. That zone now represents a critical floor for the ongoing consolidation pattern.

A decisive move below $0.09 could trigger a slide toward $0.08. Conversely, reclaiming its moving averages would help preserve the current range-bound structure, at least in the near term.

Cardano hits multi-year lows amid project setbacks

Cardano’s decline pushed it below $0.22, taking the token to levels not seen in five years and erasing about 77% of its value from its 2026 peak. The technical weakness has been compounded by project-specific headwinds, including the cancellation of the Cardano Summit 2026 and delays to a planned network upgrade.

The asset is now trading in a critical support band between $0.21 and $0.23. Oversold signals hint at the chance of short-term stabilization, but any bounce is likely to run into resistance around $0.22 and $0.24. A sustained failure to regain those levels would keep the focus on a potential drift toward $0.20.

Stellar’s pullback meets new tokenization narrative

Stellar has given back a portion of its late-May rally, retreating to about $0.22 after reaching $0.30 last week. That earlier surge was sparked by news that the Depository Trust and Clearing Corporation plans to connect a tokenized securities platform to the Stellar network, a development that ignited a gain of more than 55% in one week and broke a multi-year downtrend.

The token’s technical posture now appears more constructive after reclaiming the $0.20 level. A renewed push toward $0.27 and $0.30 could open room to test the $0.35 area, while a drop back under $0.20 would signal fading momentum and possible exhaustion of the recent advance.

Summary of key technical levels

• Bitcoin: support $62,500–$60,000; below $60,000 eyes $56,000 and possibly $50,000; above $75,000 cancels bearish pattern
• Ether: support near $1,750, then $1,550; resistance around $2,509
• BNB: range focus $605–$739; below $628 targets $570; above $745 targets $790–$900
• XRP: key support $1.20, then $1.15–$1.00; resistance near $1.61
• Solana: below $76 double-top confirmed; risk toward $67 and low-$50s
• Hyperliquid: resistance $75, then $85–$89; support $64 and $59.41
• Dogecoin: range $0.09–$0.12, with $0.09 as critical floor
• Zcash: bullish above about $587; upside scenarios toward $690, $750, $856, and possibly $928
• Cardano: support $0.21–$0.23; resistance $0.22–$0.24; risk toward $0.20
• Stellar: support near $0.20; upside focus on $0.27, $0.30, and potentially $0.35