The heaviest liquidation hour hit at $68k, not $59k. Analysis of the timing of forced selling in the first week of June shows the cascade peaked three days before the bottom.
Alpha Score of 19 reflects poor overall profile with poor momentum, weak quality, weak sentiment. Based on 3 of 4 signals – score is capped at 90 until remaining data ingests.
The standard story of a liquidation cascade is wrong. Forced selling does not pile up at the capitulation low. The first week of June showed the opposite.
Bitcoin dropped from around $74,000 to $59,081 in the first week of June. The headline figure was the size of the fall. The more useful number was the timing of the forced selling.
CoinDesk's liquidation feed mapped each hour of forced selling onto the price path. The heaviest hour of long liquidations hit on June 2, about $28 million, with Bitcoin still trading near $68,000. That was three days and almost $9,000 above the eventual low of $59,081. The leverage cleared while the price was high.
The selling was concentrated. Of the 168 hours in the week, 17 carried 64 percent of all liquidations. This was not a steady grind. It was a handful of brutal hours on June 2 and June 4, with long quiet stretches in between.
Bybit’s uncapped stream, which CoinDesk confirmed serves the complete data rather than the usual one-message-per-second cap, showed $440 million in forced selling on that exchange alone. Eighty-two percent of it was longs. Across Bybit, Binance, and OKX the week cleared at least $1.55 billion. The capped venues set only a floor.
The timing inverts the usual picture. Liquidations are typically imagined stacking up at the low, driving the final flush. Here the reverse happened. The forced selling burned out early, near $68,000, and the last leg down to $59,081 was carried by ordinary spot supply, not blown-out leverage. The bottom was not a liquidation climax. It was what came after one.
A cascade’s fingerprint is not its size. It is its timing. This one peaked long before the bottom. Traders watching liquidation data should look for clusters that appear days before the low, not at it. The data from CoinDesk’s feed shows that the heaviest forced selling hours can precede the final low by a wide margin. The final leg may be driven by something else entirely.
The week also saw Strategy’s MSTR preferred stock lose its par value, a separate risk for equity holders. MSTR stock page carries an Alpha Score of 19 out of 100, labeled Weak, reflecting structural concerns in the company’s capital structure. Bitcoin’s profile page provides the current funding rate and open interest data for those tracking the next potential cascade.
Prepared with AlphaScala research tooling and grounded in primary market data: live prices, fundamentals, SEC filings, hedge-fund holdings, and insider activity. Each story is checked against AlphaScala publishing rules before release. Educational coverage, not personalized advice.