Wednesday was brutal. Thursday was worse. Bitcoin opened today at $64,038, dropped to $62,257 during the morning, and is now trading at $63,000 — erasing all gains since the start of the war with Iran. In seven days, the price has lost 13%. The Fear & Greed Index printed today at 11, the lowest level in 2026. It's not panic. It's capitulation.
The daily RSI is at 18.20 — an extreme oversold territory historically linked to cycle bottoms, not bearish continuations. The week that ended on June 1 recorded the largest weekly ETF outflows in history: $3.4 billion in seven days. Yet, reports from OTC desks confirm that long-term funds are quietly accumulating between $63,000 and $67,000 with an 18-month horizon.