BTC drops sharply in 15 minutes by 0.59%: leveraged liquidation cascade and macro risk-hedging sentiment sync trigger short-term sell-off

Between 18:00 and 18:15 UTC on June 4, 2026, BTC saw a -0.59% return. The price ranged from 63,143.6 to 63,575.9 USDT, with a 0.68% amplitude. Within 15 minutes, the price quickly dropped; market sentiment cooled sharply, and volatility widened noticeably.

The main driver behind this move was the concentrated liquidation and forced unwinding of leveraged positions. From June 3 to June 4, the crypto market experienced large-scale liquidation events. The total liquidation across the two days exceeded $2.93 billion, including approximately $769 million worth of BTC long positions being closed. The sell pressure created by long position closures could not be absorbed in the short term, leading to a negative feedback loop in price action. The decline continued from June 3 into the June 4, 18:00–18:15 window.

In addition, ongoing net outflows from ETF funds further intensified selling pressure in the spot market. U.S. spot Bitcoin ETFs have recorded net outflows for 11 consecutive trading days, with weekly outflows reaching $3.4 billion— the largest single-week outflow since ETF launches in 2024. At the same time, rising geopolitical tensions between the U.S. and Iran pushed oil prices above $90 per barrel, increasing risk-off sentiment and driving capital from high-risk assets into traditional safe-haven assets. The U.S. 10-year Treasury yield rising above 4.5% further tightened global liquidity, and multiple factors combined to amplify volatility.

Currently, BTC remains in an oversold region. The RSI is 18.20, approaching extreme oversold levels. Next, investors should watch whether the $64,677 Fibonacci retracement level can form effective resistance; if support breaks, it could trigger another round of sell pressure. Short-term volatility risk remains high. It is recommended to monitor changes in on-chain liquidation data and ETF fund flows, and to stay on the sidelines rather than blindly trying to catch the bottom.