Bitcoin $64K June 9 Contract Crashes to 16.5% in Overnight Reversal
The Bitcoin $64,000 June 9 contract sits at 16.5% as of 00:45 UTC Tuesday—down 31 points from Monday's session open—with BTC trapped below the threshold and 15 hours to noon ET resolution.
The Bitcoin above-$64K June 9 contract has crashed to 16.5% as of 00:45 UTC Tuesday — down 29 points in the past three hours after the recovery that briefly lifted the sibling $62K contract to 90.5% reversed overnight, and down 31 points from Monday's session open of 47.5%. The session high was 55.5% at 15:25 UTC Monday.
¶Why now
Bitcoin entered the session already below the trigger: BTC closed June 7 at $61,710.28 and recovered only to $63,563.66 by 9:30 a.m. ET on June 8 — $436 short of the $64,000 threshold — before the overnight selloff began (Fortune). The unresolved Mt. Gox creditor-distribution overhang, which drove $739 million in BTC transfers and $1.86 billion in liquidations across the prior week, has capped any sustained move above $64K.
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