Bitcoin stayed pinned near $73,600 in early June trading, with little sign of a clean rebound from recent lows. According to the source material, BTC was quoted at $73,602.28 as of 9:13 a.m. Taipei time on June 1, down 0.72% over 24 hours. Its intraday range narrowed to $73,400 to $74,275, leaving the asset just above the 14-day low of $72,785 recorded on May 29.
The broader tone across major tokens was also soft. Ethereum traded at $2,006.89, down 1.06%, moving between $1,993 and $2,038. It remained close to its May 28 14-day low of $1,974.80. Solana changed hands at $82.39, while XRP stood at $1.3314. Bitcoin was still more than 5.6% below its May 21 two-week high of $77,998, showing that the recent weakness had not been reversed.
$193 Million in Liquidations, With Shorts Taking the Heavier Hit
CoinGlass data cited in the report showed total liquidations across the crypto market reached $192.95 million in the past 24 hours. The more striking detail came from shorter time frames. In the last four hours, short liquidations were reported at $67.24 million, compared with $17.32 million for longs. Over the last hour, shorts lost $35.74 million, while long liquidations came to $9.16 million.
That split points to a brief short squeeze during intraday trading. Even so, the bounce was not enough to shift the market out of its low-range pattern.
ETF Outflows and Fed Caution Keep Pressure on Risk Assets
The source outlined three main forces weighing on bitcoin. First, spot Bitcoin ETFs posted net outflows of more than $2.3 billion in May, the largest monthly outflow of 2026 based on the report. It also referenced a prior stretch of nine straight sessions of net outflows totaling about $2.8 billion, a sign that fresh buying support has been thin.
Second, the Federal Reserve has not moved toward rate cuts. The report said the Fed kept its benchmark rate unchanged at 3.50% to 3.75% in April, while U.S. April PCE inflation rose to 3.8%. That combination kept policy expectations tight and left traders focused on the next major macro events: the U.S. May CPI release on June 10 and the June 16-17 FOMC meeting with an updated dot plot.
Crypto Weakness Stands Apart From New Highs in U.S. Stocks
The third pressure point was the contrast with equities. On May 29, the S&P 500 closed at 7,580.06, the Nasdaq at 26,972.62, and the Dow at 51,032.46, all described in the source as fresh highs. While technology shares kept advancing, bitcoin failed to follow. The report added that the valuation gap between BTC and the Nasdaq had widened to a record level, and cited Bitwise as saying that bitcoin could see catch-up gains in the second half of the year.
For now, sentiment remains defensive. The Fear and Greed Index was listed at 29, in the fear zone, while price action stayed compressed near recent lows. The next read on inflation and the Fed's updated rate path remain the main signals traders are watching.