Bitcoin teases 'seller exhaustion' as BTC price downside reaches $60.3K

Written by William Subergstaff writerReviewed by Allen Scottstaff editorWritten by William Subergstaff writerReviewed by Allen Scottstaff editorBitcoin teases 'seller exhaustion' as BTC price downside reaches $60.3KMarketsPublishedJun 5, 2026Bitcoin sellers were losing steam, market analysis said as ongoing BTC price downside brought the market closer to $60,000.Bitcoin (BTC) extended losses after Friday’s Wall Street open as traders prepared for a retest of $60,000.Key points:Bitcoin begins a battle to protect $60,000 support as sell-side pressure refuses to cool.Analysis sees early signals that "seller exhaustion" is here.US nonfarm payrolls data produce a stronger-than-expected picture of US labor market conditions.Bitcoin battles for $60,000 supportData from TradingView showed daily BTC price downside approaching 5% as sellers stayed in the driving seat.BTC/USD one-hour chart. Source: Cointelegraph/TradingView“Rapidly approaching its February low at $60K. Now in its 6th red daily candle and down more than the entire April/May rally,” trader Daan Crypto Trades noted in a reaction on X. “Really was a case of stairs up elevator down which is something we often see in these larger bear trends. Eyes on that $60K area for now.”BTC/USDT perpetual contract one-day chart. Source: Daan Crypto Trades/XCommentator Expitump referenced the Coinbase Premium, the difference in price between Coinbase’s BTC/USD and Binance’s BTC/USDT pairs and a key yardstick for US demand.“Price is still under controlled selling, but seeing funding getting almost into negative and coinbase discount decreasing,” they summarized in their latest market coverage. “Early signs of seller exhaustion."Binance Bitcoin futures 30-minute chart with order-book data. Source: Exitpump/XTrader Morin said that BTC/USD was now “frontrunning a key range low” with the key $60,000 mark in sight.“Swept 61.3k internal low but failed to make higher high. Consistent lower highs -> Sellers in Control,” he told X foll…

Bitcoin teases 'seller exhaustion' as BTC price downside reaches $60.3K

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