In this video, we break down Bitcoin on the Weekly, Daily, 4hr chart using Elliott Wave Theory. You’ll discover both bullish and bearish scenarios, plus the critical price levels and targets to watch. Video by Koenz Trading.
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Bitcoin (BTC) is trading around $60,800 to $62,800 on Friday, June 5, 2026, marking a sharp decline of roughly 14% over the past week and leaving the cryptocurrency down more than 50% from its October 2025 all-time high of approximately $128,000. The digital asset is experiencing intense selling pressure, hovering precariously close to a critical $60,000 "line in the sand" technical floor.
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Bitcoin Insights Today
-The AI Capital Rotation Craze: Institutional and retail funds are actively rotating out of digital assets and flowing aggressively into artificial intelligence sectors at an unprecedented scale. Broad equity tech indexes like the Nasdaq are absorbing the liquidity that previously fueled crypto rallies.
-Record ETF Outflow Streak: Spot Bitcoin ETFs just logged a bruising, record-setting 13-day consecutive outflow streak, hemorrhaging a massive $4.4 billion in assets under management.
-Corporate Selling (Strategy Shock): Investor sentiment absorbed a major psychological blow after Michael Saylor’s Strategy, the world's largest public corporate holder of Bitcoin, disclosed a sell-off of some assets for the first time since 2022 to navigate capital reallocations.
-Geopolitical Tensions & Macro Data: Escalating tensions in the Middle East—specifically reports that Hezbollah rejected an Israeli ceasefire offer—combined with heightened investor caution ahead of the U.S. Nonfarm Payrolls (employment) report, have accelerated a flight toward traditional safe havens like gold.
-Contagion from Altcoin Bugs: Broader crypto sentiment was severely dampened after Shielded Labs uncovered a major, four-year-old vulnerability in Zcash (ZEC). This sparked a 40% crash in Zcash, triggering panic-selling across several major general-purpose alternative protocols.
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