Bitcoin Liquidates $617M in Longs, Bounces 5.5% to $64.7K on June 4

According to CoinGlass data, on June 4, Bitcoin fell to around $61,300, triggering over $617 million in long liquidations out of more than $737 million in total positions wiped over 24 hours. The token rebounded about 5.5% to near $64,700, a move that coincided with reports of an Israel–Lebanon ceasefire easing geopolitical risk.

Traders remain split on the bounce: some see the leverage flush as evidence of a local bottom, with relief-rally targets toward $69,000–$70,000, while others caution the rebound may trap bulls ahead of a potential retest of broken support.