Bitcoin Dips to $61,300 Then Recovers to $64,680 on June 4 Amid $1.7B in Liquidations

Bitcoin fell to $61,300 at 02:00 UTC on June 4 before recovering to as high as $64,680 and later trading around $62,500. The move contributed to $3 billion in liquidations over two days, according to CoinDesk. 9% to $305 billion.

4 billion. Bitcoin open interest declined to 766,000 BTC from record levels above 800,000 BTC the previous day. 7 billion in futures positions in the 24 hours ending June 4.

Of that total, $750 million came from bitcoin positions and $390 million from ether. Ether fell 3% since midnight UTC and traded near $1,750. The $60,000 strike put on Deribit held more than $1 billion in notional open interest.

The $55,000 put was the most actively traded options contract in the past 24 hours. Put skews strengthened for both bitcoin and ether. Volmex's 30-day implied volatility indexes for bitcoin and ether rose over the past three sessions.

The 24-hour cumulative volume delta across the top 20 tokens remained negative. 16 million tokens even as its price fell below the February low. TRX and ADA also saw open interest increase while prices declined.

NEAR, ZEC and JUP each dropped more than 13%. DASH, ENA and FET fell more than 10% since midnight UTC. HYPE lost 12% after reaching a record high earlier in the week. Monero traded at $347, down 4% since midnight but higher over the past 24 hours.

08 according to CoinDesk data on June 4.