June started with a sharp decline for the crypto market. As leading cryptocurrencies lose ground, traders face a cascade of liquidations.
On June 4, 2026, the crypto market experienced one of its sharpest declines in recent months. Bitcoin momentarily dropped to $61,300-$61,384, its lowest level since February 2026. At the time of publication, the coin had corrected to $62,500.
Hot topic: Bitcoin Price Falls Back to 2024 Levels, Here’s Why Bitcoin Is Going Down
Ethereum lost about 7% in 24 hours and momentarily fell below the psychological $1,900 level. At the time of publication, ETH▼$1,774.49 trades at approximately $1,750.
Among other major altcoins, Solana showed the sharpest decline at -10%, Avalanche at -11%, and Cardano at -9%. Meanwhile, some tokens showed gains: Siren rose more than 20%, Worldcoin gained over 20%, and Audiera grew 17%.
Scale of Crypto Market Liquidations
The decline triggered a powerful wave of forced position closures. Over the past 24 hours, contracts totaling $1.73B were liquidated on the crypto market. More than 291K traders were affected.
Approximately 85% of all liquidations were long positions. Bitcoin (BTC) holders were hit hardest at $777M. Ethereum (ETH) followed at $398M, with Solana (SOL) third at $89M. The largest single liquidation occurred on the decentralized exchange Hyperliquid (HYPE) at $16.2M on the BTC/USD pair.
Read more: Cardano Price Falls to 2021 Low as Charles Hoskinson Takes Break
Why Is the Crypto Market Falling on June 4?
Several factors contributed to the sharp decline. Capital outflows from U.S. spot bitcoin ETFs continue—this is now the 13th consecutive day of negative results. Geopolitical uncertainty surrounding the US-Iran conflict is also weighing on risk appetite. Additionally, investors continue to reallocate funds into AI stocks and gold, which have recently shown stronger performance.
The Crypto Fear & Greed Index fell to 12 points, remaining in “extreme fear” territory. Many analysts believe that such deep long capitulation often becomes the foundation for a subsequent relief rally.
Learn more: Top Massive Crypto Liquidations in 2026 — What’s Going On with Crypto Market After Billion-Dollar Flushes?
