BTC drops 0.73% in 15 minutes: Weak technical outlook and synchronized bearish sentiment continue the downtrend

From 07:00 to 07:15 UTC on June 5, 2026, BTC saw a -0.73% return, trading between 61,379.0 and 61,986.7 USDT, with a 0.98% amplitude. Short-term volatility has increased, and the market continues its recent weak trend.

The main driver behind this move is the resonance between the ongoing downtrend and structural issues in the derivatives market. Over the past 7 days, BTC has fallen by -13.35%. The price has effectively broken below the 50-day moving average ($76,458) and the 200-day moving average ($78,646), and the short-term technical picture is clearly bearish. At the same time, the funding rate has continued to stay in extremely negative territory. Short positions are crowded, and bearish selling power dominates the market.

Second, macro uncertainty is continuing to weigh on sentiment. Historical data shows that BTC has fallen in 8 of the past 9 FOMC meetings, and traders tend to avoid risk ahead of events. In addition, on June 2, Bitcoin large transactions surged to 10,095 trades over $100,000, the highest in six weeks. However, the purpose of “whale” activity is unclear; if it is for distribution rather than accumulation, it will increase short-term supply pressure. In the Satoshi era, whales opened more than $1.1 billion worth of short positions, and if they continue to add, it could further intensify selling.

Currently, BTC is in an oversold state with an RSI of only 18.67, and the Fear and Greed Index at 12 is at an extreme fear level. The $110,000–$112,000 support zone should be watched. If it breaks, it may accelerate a drop toward the $100,000–$105,000 area. Conversely, extreme negative funding rates and historical signals suggesting sell-side supply exceeding 10.5 million BTC could trigger short squeezes and bargain buying.