Bitcoin Price News: BTC Crashes as Retail Buys Dips – Iran Strikes Spark Risk‑Off Flight

Bitcoin price dipped another 3% today. The relief rally above $64,000 this week was short‑lived. BTC now trades near $61,000 – dangerously close to the bear market bottom (for now).

The trigger: President Trump announced retaliatory strikes against Iran. Global markets dumped risk assets. Crypto took the hardest hit. Over $664 million in leveraged positions were liquidated in 24 hours. Longs absorbed most of the damage.

Let us dig into what is moving Bitcoin price today – from on‑chain accumulation patterns to global liquidity ratios, and what might come next.

Santiment Report: Retail Accumulates, Whales Stay on the Sidelines

Santiment’s latest on‑chain research reveals a clear divergence between small and large Bitcoin holders.

Retail investors continue to view every dip as a buying opportunity. Over the past two weeks alone, wallets holding less than 0.01 BTC increased their collective holdings by +0.36%. This happened while Bitcoin struggled to stay above the critical $60,000 support level.

Historically, true market bottoms are often accompanied by capitulation from smaller investors – when frustration finally outweighs conviction. That widespread surrender is not showing up yet.

Whales – wallets holding between 10 and 10,000 BTC – have done the opposite. Over the same two weeks, they reduced their holdings by -0.20%. Larger stakeholders remain unconvinced that this is the time for a major relief rally.

The attached Santiment chart (daily candles, Dec 9 to June 8) shows the price slide from roughly $85K to $61K. The red annotation highlights: *Wallets With Less Than 0.01 BTC: +0.36% BTC ACCUMULATED in 2 Weeks*. The blue annotation: *Wallets With 10‑10K BTC: -0.20% BTC DUMPED in 2 Weeks*.

This divergence leaves retail carrying the bullish burden while whales sit on the sidelines. Until smaller holders show signs of exhaustion or larger players return to aggressive accumulation (preferably both), Bitcoin may still be searching for a more durable bottom.

Joao Wedson: Bitcoin’s Market Cap / Global M2 Ratio – A Powerful Top Indicator

Analyst Joao Wedson shared a chart from Alphractal that tracks Bitcoin Market Cap vs. Global M2 Money Supply.

The ratio has marked Bitcoin price tops with impressive accuracy. At the last major top in October 2025, Bitcoin’s market cap represented exactly 2% of Global M2. Today, that ratio has fallen to 0.94%.

Wedson’s point: Even after multiple cycles, ETFs, institutional adoption, and more than 15 years of history, Bitcoin still captures less than 1% of global monetary liquidity. That is not necessarily bearish – it shows how much room exists for growth if adoption continues.

But the trendline makes something else clear. When the ratio climbs to 2% or higher, Bitcoin becomes overheated relative to global liquidity. When it falls back toward 1% or below, Bitcoin is losing monetary share – often ahead of deeper corrections.

The Alphractal chart (2020‑2026) shows the ratio peaking near 2.12% in late 2021, then again near 2.0% in October 2025, before sliding to current levels around 0.94%. The price line (log scale) moved from $10K to $100K and back to $61K.

Wedson’s conclusion: Liquidity drives cycles. This chart helps reveal where Bitcoin stands inside that cycle. Right now, it stands at a level that historically has offered better long‑term entry points – but not always immediate bottoms.

Read more Bitcoin news: Walmart Now Accepts Bitcoin for In-Store Payments

Bitcoin Price News: Iran, Russia, and the UTXO Split

Two sanctioned economies are quietly building parallel settlement infrastructure on the same network.

Iran is charging $1.5‑2 million per oil tanker transit through the Strait of Hormuz – and payments are being processed via Bitcoin Lightning. Russia is legislating Bitcoin as property for foreign trade at the ministerial level.

This is not speculation. It is happening now.

The implication: Bitcoin’s UTXO set is about to split into two classes. Coins that have touched regulated exchanges – and coins that have not. Self‑custody stops being a philosophy and becomes a requirement when OFAC starts tagging addresses connected to Russian commodity settlement.

This is the stress test Satoshi designed for. Bitcoin does not care who uses it. But regulators will care. The coming months will determine whether Bitcoin remains a neutral global asset or becomes fragmented into “clean” and “sanctioned” pools.

Meanwhile, institutional demand remains weak. U.S. spot Bitcoin ETFs recorded $133.46 million in net outflows in a single day, reversing a recent trend of positive demand. That is a key indicator of institutional appetite – and right now, that appetite is absent.

Bitcoin Price Prediction for Today (June 10)

Here are our Bitcoin price predictions for today, based on technical levels, ETF flows, and macro news (Iran strikes, BOJ rate hike expectations).

Scenario	Price Target	Key Conditions
Bullish	$62,500 – $63,200	BTC reclaims $62,000 and holds above the 4‑hour 50‑MA. ETF outflows slow below $50M. Iran news fades from headlines.
Neutral	$60,800 – $61,800	Price chops sideways between $60,800 (support) and $61,800 (resistance). Low volume. Traders wait for BOJ decision on June 16.
Bearish	$59,500 – $60,200	$60,000 breaks on high volume. ETF outflows accelerate past $200M. Iran escalates. Then next support sits near $58,000.

Our bias: Neutral to bearish for today. The $60,000 level has been tested four times in the past week. Each test weakens the floor. Retail accumulation is not enough to offset whale dumping and institutional outflows.

A break below $60,000 BTC before the BOJ meeting would open the door to $58,000 – and eventually the $49,000‑$55,000 zone flagged by Peter Brandt and Kalshi traders.

FAQs

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Why is Bitcoin dropping

President Trump’s retaliatory strikes against Iran triggered a global flight from risk assets. Over $664 million in crypto longs were liquidated, accelerating the selloff.

Are retail Bitcoin investors buying or selling

Small wallets (<0.01 BTC) added +0.36% to their holdings over two weeks. They are buying dips. Whales (10‑10K BTC) dumped -0.20% over the same period.