Trading

A sharp pullback in Bitcoin perpetual futures and deeper losses across several altcoin contracts point to a broad crypto derivatives deleveraging event, with traders cutting risk after long-side positioning came under pressure. User-provided Binance lead data showed BTC perpetual futures down 6.36% over 24 hours, with BTC open interest around 103,561 BTC. Cross-venue public API snapshots captured on June 4, 2026, showed a similar pattern across BingX and OKX, where BTC perpetuals fell about 7% while SOL, ADA, and TON contracts posted steeper losses.

Bitcoin traded just below $63,000 late June 3, after a sharp drop coincided with about $1.12 billion in liquidations over 24 hours, dominated by $949 million in long positions. The selloff briefly pushed BTC to $62,569 on Binance at 9:50 p.m. EDT, keeping traders focused on the $60,000 support area and near-term resistance between $65,000 and $70,000.

Charles Schwab has introduced a 24/7 crypto futures trading service, giving retail customers continuous access to bitcoin-linked futures and other crypto-related products. The rollout is positioned as part of broader upgrades to its retail platform, aiming to reduce the mismatch between fixed futures sessions and always-on crypto spot markets.

Bitcoin slipped under $66,000 late Tuesday before rebounding to around $66,460 in early Wednesday New York trading, after touching nearly $65,700. Ethereum fell more than 7% to about $1,849, while broader weakness followed $519 million of net outflows from U.S. spot Bitcoin ETFs and about $90 million from spot Ethereum ETFs, alongside liquidations and rising Middle East tensions.

Bitcoin fell to $63,300 on Thursday, its lowest level since January, leaving it down more than 16% on the week and over 45% from the peak above $120,000 last October. Traders on Kalshi are pricing nearly an 80% chance of a drop below $60,000 in 2026, while U.S. spot Bitcoin ETFs have logged $4.21 billion in outflows over the last three weeks. On-chain metrics cited in the report place key levels at $77,800 resistance and $53,900 support as volatility measures and options skew point to elevated demand for downside protection.

The latest crypto sell-off cut total market capitalization by more than 7%, falling from above $2.50 trillion to $2.32 trillion at press time. Bitcoin drove much of the decline, with price moving from above $77K to $67K and market cap shrinking from $1.50 trillion to $1.34 trillion. Derivatives saw over $700 million in long liquidations in the past 24 hours, including $283 million in a single hour.

Cboe Global Markets is keeping its options open around the inactive Cboe Digital Exchange after a CFTC letter dated June 3 outlined temporary no-action relief tied to the venue's dormant status. The relief allows Cboe Digital to list products without first reinstating its designated contract market status, and remains in place through April 6, 2027, or until trading resumes.

On 3 June 2026, CoinGlass data showed 185,298 traders were liquidated over 24 hours for $939.87M, with $755.95M coming from long positions. Major coins fell over the same period, including BTC down 2.37% to $65,401, while BNB, ETH, and ADA each slid more than 5%. The liquidation mix stayed long-heavy in shorter windows as well, with a 4-hour total of $149.69M and ETH liquidations ($56.23M) exceeding BTC ($27.70M).

Worldcoin (WLD) rose more than 29% in 24 hours and 51% over the week as roughly $1.7 billion in leveraged positions were liquidated across crypto. WLD's daily trading volume topped $1 billion while Bitcoin fell to $66,000 and Ethereum dropped below $2,000. A scheduled July 24, 2026 issuance change is set to cut daily new WLD supply by about 43%.

edgeX said the EDGE token sank as much as 71% within hours on June 2 and that reviews by exchanges and market makers found no signs of coordinated manipulation. The firm attributed the move to thin on-chain liquidity, crowded longs, and liquidation spillovers into perpetual futures, and it unveiled a 200,000 USDC bounty plus voluntary goodwill payments for affected users.