Bitcoin Falls to $63K, Lowest Since Feb, Fueled by ETF Outflows and Mt. Gox Fears
Bitcoin extended losses on June 4, 2026, dropping to $63,000, its lowest since February 24, and down over 14% this week and 21% over the past four weeks. The selloff triggered demand for protective options, pushing the 30-day implied volatility index BVI to 53.17, the highest since April 2. U.S.-listed spot Bitcoin ETFs saw their 13th consecutive day of outflows, with $50 million withdrawn on Wednesday, signaling waning institutional demand. Analysts cite lack of fresh catalysts, liquidity rotation into AI sectors, and concerns over potential Mt. Gox liquidations as factors fueling further volatility. Key support is watched around $60,000, with some eyeing $50,000 as a potential bottom this year. The 200-week moving average near $59,900 also serves as a critical zone, though not guaranteed support.
Key facts
- Bitcoin fell to $63,000, the lowest since February 24, down 21% in four weeks.
- 30-day implied volatility index BVI rose to 53.17, highest since April 2.
- U.S. spot Bitcoin ETFs saw 13th consecutive day of outflows, with $50M on Wednesday.
- Analysts point to lack of catalysts, AI liquidity shift, and Mt. Gox concerns.
- Key support at $60,000, with some eyeing $50,000 as a potential bottom.