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Guavy AI Editorial Team••Sentiment: -4•Clout: 25

Bitcoin Slumps Below $63,000 Amid Intensifying Short-Term Selling Pressure

BNBBTCUSDTXRPETH

Bitcoin (BTC) has extended its decline, breaking below the $63,000 level on June 4. As of 10:33 a.m., Bitcoin was trading at $62,897.67 on Binance's USDT market, down 6.16% from a day earlier.

The break below this key level has triggered stop-loss orders and long liquidations, intensifying short-term selling pressure. Major altcoins such as Ethereum (ETH) and XRP (XRP) have also fallen across the board.

According to the Forecast Trend Report by PeriodShort-termNegative(Confidence Level: 72%), if Bitcoin fails to hold the $61,500 support level, the $58,000 level could be tested. If Bitcoin recovers to $65,100, a rebound attempt toward $67,000 is expected.

While Bitcoin's RSI of 11.24 indicates oversold conditions, the sharp decline in MACD, surge in trading volume, and break below the long-term moving average confirm the dominance of the downtrend.