Bitcoin’s futures market is sending a warning that analysts say could mean more trouble ahead. Open interest rose to about 288,000 BTC even as prices dropped, while funding rates stayed positive at 0.083%. This suggests that bullish bets are still in place despite the selloff, leaving the market open to another wave of forced liquidations.
Related Reading: XRP Dips In The Short Run, But A Bigger Setup May Be Forming: Analyst
Bitcoin Liquidations Hit Hardest Since February
Around $672 million worth of Bitcoin positions were wiped out in the 24 hours ending June 2, marking the biggest single-day wipeout since February 5. This happened as Bitcoin fell below $67,000, pushing short-term holders—those who bought recently—into losses at a pace not seen since early this year. On Binance alone, short-term holder losses hit -16,400 BTC on June 2. Across all exchanges, that number reached -38,700 BTC, slightly down from -41,300 BTC recorded on May 28. Data shows these are buyers from recent months who are now selling at a loss.
Retail And Mid-Sized Investors Head For The Exits
Larger players are also moving their coins. Reports from CryptoQuant analyst Amr Taha show that mid-sized investors sent about 8,400 BTC to Binance on June 2 alone—the most since February 6. On the retail side, Binance’s 30-day inflow total reached $9.2 billion by June 1, the highest since November 20, 2025. Analyst MorenoDV, who tracked the retail flow data, said that exchange inflows don’t automatically mean selling is coming, but they often appear before periods of sharper volatility. If buy-side demand absorbs the inflows, the spike could turn into a local exhaustion point—but if it doesn’t, it may signal the start of broader selling from weaker hands, MorenoDV added.
This is called an expanding triangle. Expanding triangles are very common in Bitcoin. They are also typically reliable. The target for expanding triangles is the height projected from the breakout. A move back above 75,000 would change my analysis $BTC pic.twitter.com/WOOU5xTJ7g — The Factor Report (@PeterLBrandt) June 2, 2026
$60K Zone Draws All Eyes
From a technical perspective, Bitcoin has broken below two previously held support levels at $74,800 and $70,400. The eight-hour RSI fell to 30.4 on June 2, its lowest since February 6, pointing to oversold conditions and ongoing downward pressure.
Related Reading: XRP Is The Clear Winner For Transactions, According To Peter Brandt
Charts point to a liquidity cluster between $62,300 and $65,600, which overlaps with a demand zone stretching toward $60,000. Veteran trader Peter Brandt identified a broader concern, noting that Bitcoin appears to be forming an expanding triangle pattern on the daily chart.
Featured image from MetaAI, chart from TradingView
Frequently Asked Questions
Here is a list of FAQs about Bitcoin holders showing signs of strain with the 60000 price level as a key conflict point
BeginnerLevel Questions
1 Why is 60000 such a big deal for Bitcoin holders
A lot of people bought Bitcoin when it was trading between 60000 and 69000 in late 2021 If the price drops below 60000 those buyers are now losing money It becomes a psychological line in the sand where many holders start to panic
2 What does it mean when you say holders are showing signs of strain
It means they are getting nervous and selling Signs include a sudden increase in the number of coins moving to exchanges people selling at a loss and a lot of negative chatter online
3 If I bought Bitcoin at 70000 should I sell now that its near 60000
Thats a personal decision not financial advice However selling at a loss locks in that loss Many investors choose to HODL and wait for the price to recover but it can be very stressful
4 Is it normal for Bitcoin to drop this much
Yes Bitcoin is famous for its volatility It has seen 80 drops before A drop from 70000 to 60000 is a roughly 14 decline which is actually a relatively normal correction in Bitcoins history
5 What is a panic sell
Its when an investor sells their Bitcoin quickly because they are scared the price will drop even further often right after a big price drop This usually results in selling at the worst possible time
Intermediate Advanced Questions
6 What specific onchain data shows holders are under strain at 60000
Analysts look at the SOPR When it drops below 1 it means the average seller is losing money Also a spike in Exchange Inflow Volume from longterm holders is a major red flag
7 Does the 60000 level act as support or resistance
Right now its acting as a major