Bitcoin Slides Toward $60K as Banks Unveil Tokenized Deposits

Bitcoin has extended its selloff into June 5, trading near $60,000 with total crypto market capitalization at $2.22 trillion. The decline began June 2 with $3.45 billion in ETF outflows and $1.5 billion in liquidations triggered by capital rotation into AI equities. Selling intensified June 3 after MicroStrategy sold 32 BTC and Mt. Gox moved $739 million, pushing prices to a $65,300 low. On June 4 Bitcoin briefly touched $61,300 before four major banks revealed plans for a tokenized deposit network. Extreme fear persists as support at the 200-week moving average is tested.