2:19 PM ยท 1 June 2026

Bitcoin drops 3% falling to the lowest level since 13 April ๐Ÿ“‰

Bitcoin is retreating today to just under $72,000, and on the daily timeframe we can see that the RSI has already fallen to a level close to "oversold" territory at 32.6. On the other hand, historical market bottoms have typically occurred at significantly lower RSI readings than the current one, suggesting that if this is indeed another leg lower, it may still be too early to expect the downtrend to stabilize.
  • On-chain data indicates that whales have paused their Bitcoin accumulation, a pattern that has historically preceded periods of weakness during crypto bear markets.
  • Based on the historical halving cycle, a potential Bitcoin price bottom could emerge in early autumn 2026, while spot demand still lags.
  • Seasonally, the summer period tends to be weak for the cryptocurrency market, with Bitcoin declining today despite record gains in global equity markets.
  • Precious metals are also under pressure alongside cryptocurrencies, as markets adjust to expectations of slightly more hawkish inflation and central bank policies compared with the environment seen at the turn of 2025 and 2026.

Bitcoin (D1 timeframe)

Source: xStation5

Looking at the hourly chart, Bitcoin remains within a downward price channel and is currently trading roughly in the middle of that range. Key support levels are located near $67,000 and in the $60,000–61,000 area.

Source: xStation5

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