Bitcoin slides under $62,000, sparking $1.5B in crypto liquidations

CryptoSlate (June 4) highlights the following market developments: Bitcoin fell below $62,000, setting off roughly $1.5 billion in forced liquidations across the crypto market. Spot Bitcoin ETFs posted a net outflow of $39.66 million. Cumulative outflows have reached $4.37 billion over the past 13 days. Ki Young Ju said the Bitcoin market is facing heavy selling pressure. The BTC OG insider whale reported unrealized losses of more than $16.25 million on BTC long positions. A wallet suspected to be linked to HYPE listing insider activity—labeled "HYPE Long Position #1"—has seen unrealized gains on HYPE longs expand to about $47.57 million. Hyperliquid's price moved above Solana's, bucking the broader market trend. Bitcoin miners generated more than $1 billion in total revenue in May. Tom Lee's Bitmine (BMNR) is set to launch 9.5% preferred shares. Tron Crypto has introduced its first securitized senior credit opportunity fund. Israel's proposed cryptocurrency tax plan came in below expectations, with reported discrepancies continuing to widen.