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05.06.202609:27 Forex Analysis & Reviews: Trading Recommendations for the Cryptocurrency Market on June 5

Bitcoin and Ethereum continue to collapse, having fallen more than 6% yesterday alone. Bitcoin is now trading at $61,600, clearly aiming to break the $60,000 level. Ethereum has already plummeted to around $1,640 and is ready to test the psychological support of $1,500.

Exchange Rates 05.06.2026 analysis

In this context, it is not surprising that the cryptocurrency ETF market continues to set anti-records. The Bitcoin ETF has recorded its thirteenth consecutive red day, with an outflow of $396.6 million, while the Ethereum ETF has seen a seventeenth day of losses totaling -$52.9 million.

17 days without a single positive day for Ethereum is a historical record low, indicating not a temporary correction but a systemic exit of institutional capital from the second-largest crypto asset.

This time, altcoins also entered the red zone: XRP lost $5.3 million, and SOL lost $12.7 million. The only assets with positive results were HYPE ($3 million) and BNB ($1.2 million) — a drop in the ocean against the backdrop of the day's overall outflow. DOGE, LINK, HBAR, LTC, AVAX, and DOT showed zero flows.

The final touch to the grim picture comes from data regarding BlackRock. Over the past ten days, the world's largest asset manager has transferred 30,119 bitcoins worth $1.9 billion and 161,829 ethers worth $320 million to Coinbase Prime — a total of about $2.2 billion. This is not a one-time operation, but a methodical, consecutive withdrawal of assets onto the trading platform over nearly two weeks. When a company managing $10 trillion in assets moves crypto assets to exchanges day after day, the market reads it clearly: BlackRock is preparing to sell. And this behavior of the largest institutional player explains why even the declared state support for Bitcoin — strategic reserves, the CLARITY Act, the SEC's five-year plan — cannot stop the outflow.

Bitcoin

Exchange Rates 05.06.2026 analysis

Buy Scenario

Scenario 1: I plan to buy Bitcoin today when the entry point reaches around $62,600, with a target growth to the level of $64,800. Around $64,800, I intend to exit the buy positions and sell immediately on a bounce. Before buying on the breakout, ensure that the 50-day moving average is below the current price, and the Awesome indicator is in the zone above zero.

Scenario 2: Bitcoin can be bought from the lower boundary of $61,000 if there is no market reaction to its breakout back to the levels of $62,600 and $64,800.

Sell Scenario

Scenario 1: I plan to sell Bitcoin today when the entry point reaches around $61,000, with a target drop to the level of $58,700. Around $58,700, I intend to exit the sell positions and buy immediately on a bounce. Before selling on the breakout, ensure that the 50-day moving average is above the current price, and the Awesome indicator is in the zone below zero.

Scenario 2: Bitcoin can be sold from the upper boundary of $62,600 if there is no market reaction to its breakout back to the levels of $61,000 and $58,700.

Ethereum

Exchange Rates 05.06.2026 analysis

Buy Scenario

Scenario 1: I plan to buy Ethereum today when the entry point reaches around $1,688, with a target growth to the level of $1,793. Around $1,793, I intend to exit the buy positions and sell immediately on a bounce. Before buying on the breakout, ensure that the 50-day moving average is below the current price, and the Awesome indicator is in the zone above zero.

Scenario 2: Ethereum can be bought from the lower boundary of $1,611 if there is no market reaction to its breakout back to the levels of $1,688 and $1,793.

Sell Scenario

Scenario 1: I plan to sell Ethereum today when the entry point reaches around $1,611, with a target drop to the level of $1,518. Around $1,518, I intend to exit the sell positions and buy immediately on a bounce. Before selling on the breakout, ensure that the 50-day moving average is above the current price, and the Awesome indicator is in the zone below zero.

Scenario 2: Ethereum can be sold from the upper boundary of $1,688 if there is no market reaction to its breakout back to the levels of $1,611 and $1,518.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Miroslaw Bawulski,
Analytical expert of InstaSpot
© 2007-2026
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