On June 10, Bitcoin traded at $61,433, with the daily Relative Strength Index (RSI) plunging to 23.85—the most oversold reading since the February 2026 low. Spot Bitcoin ETF net assets dropped to $77.58 billion, returning to levels last seen just after Donald Trump’s November 2024 election victory, signaling a significant pullback in institutional exposure. In the past 24 hours, long liquidations surged to over $92.14 million, far exceeding the $27.13 million in short-side liquidations, underscoring heavy bearish pressure.
Fidelity Digital Assets noted that Bitcoin’s price briefly slipped below the 200-week simple moving average near $61,800—a threshold historically associated with forced selling events. On the daily chart, all key exponential moving averages are stacked bearishly overhead: the 20 EMA at $67,887, 50 EMA at $71,984, 100 EMA at $74,192, and the 200 EMA at $79,393. With price channeling lower and no immediate reclaim in sight, the technical structure remains overwhelmingly bearish.
