$1.2 Billion Wiped Out as Bitcoin Tests Key $62.5K Support During Crypto Market Crash

The cryptocurrency market faced a sharp selloff as more than $1.2 billion in leveraged positions were liquidated within 24 hours. With Bitcoin falling toward the critical $62,500 support level.

The decline triggered widespread liquidations across both Bitcoin and altcoins, as traders rushed to reduce risk amid rising market uncertainty and bearish sentiment. Analysts are closely watching the $62.5K zone. Which is viewed as a key technical support level that could determine Bitcoin’s short-term direction.

Despite the heavy selling pressure, some market participants believe the correction is a healthy reset after months of strong gains. While others warn that a break below support could lead to further downside volatility across the broader crypto market.

Clever Robot News Desk 4^th June 2026