Bitcoin, Ethereum, Stellar and Toncoin all entered June 5 under heavy selling pressure, with the Fear and Greed Index sitting at 12 and bulls needing to reclaim key support levels before any
Bitcoin, Ethereum, Stellar and Toncoin all entered June 5 under heavy selling pressure, with the Fear and Greed Index sitting at 12 and bulls needing to reclaim key support levels before any sustained recovery becomes credible.
The crypto market's total capitalization hovered near $2.29 trillion, with Bitcoin dominance at roughly 55.8%. A week-long drawdown that saw BTC slide 9.5% had already liquidated over $1.7 billion in leveraged futures positions, and the session's tone remained defensive across all four assets covered here.
What to Know
Bitcoin traded at $63,795 on June 5, up roughly 1% over 24 hours but still well below the $67,000 level it held on June 3. That slight bounce came on $63.7 billion in daily volume, suggesting some dip-buying but not the kind of aggressive reclaim that would signal a trend reversal.
BTC Spot Price $63,795 CoinGecko's public Bitcoin page reflected a June 5 trading level near $63.8K.According to U.Today's June 5 technical analysis, Bitcoin's RSI had fallen below 20, a level that typically signals oversold conditions but does not guarantee an immediate rebound. The downside risk remains a continued slide if the asset fails to hold the $63,000 area.
For buyers to regain control, BTC needs to reclaim and close above $67,000, the level where it steadied on June 3 before the most recent leg lower. Without that, the seven-day drawdown pattern stays intact and puts-heavy options positioning, including heavy activity around the $70,000 put expiring June 5, continues to reflect bearish hedging. The debate around whether large holders selling Bitcoin into weakness is accelerating the decline adds another layer of uncertainty.
Ethereum painted a weaker picture, trading at $1,769.06 with a 24-hour decline of roughly 0.9%. U.Today's analysis placed ETH's RSI at 18, even lower than Bitcoin's, and flagged the $1,500-$1,600 range as the next downside target if selling pressure persists.
ETH is lagging BTC on this session. Bitcoin at least managed a slight green candle; Ethereum could not. That divergence matters because ETH often serves as a leveraged proxy for broader risk appetite. When it underperforms BTC during a bounce attempt, it signals that traders are not yet confident enough to move down the risk curve. The question of whether Ethereum can sustain value as an asset continues to surface in these drawdowns.
Stellar traded at $0.2013, down 2.9% in 24 hours, pulling back toward the $0.20 support level that U.Today highlighted as critical. Despite the day's weakness, XLM carries a catalyst that none of the other three assets in this analysis share: DTCC's May 27 announcement that DTC-custodied assets would become available on the Stellar network in the first half of 2027.
That institutional tokenization plan, backed by a December 2025 SEC no-action letter, had already driven XLM past Cardano in market-cap rankings by June 1. The rally has since cooled, and the test now is whether buyers will defend the $0.20 floor or let the post-announcement gains unwind further.
For XLM to confirm buyer control, it needs to hold $0.20 on a closing basis and push back above $0.22. A break below $0.20 would erase the DTCC-driven premium and leave the token vulnerable to a broader altcoin rotation out.
Toncoin was the weakest of the four, dropping 11.1% in 24 hours to $1.67. That move sliced through the $1.75-$1.80 support cluster that U.Today's analysis had identified as a key floor, according to the source's technical interpretation. Even those who refuse to sell through losses face a difficult test of conviction at these levels.
A recovery above $2.00 would be the first meaningful signal that TON buyers are stepping back in, with $2.40-$2.50 as the next resistance band if that level is reclaimed. Until then, the double-digit daily loss and the Extreme Fear backdrop make TON the most vulnerable of the group.
Fear & Greed Index 12 Alternative.me classified the June 5 reading as Extreme Fear.Of the four assets, XLM looks relatively strongest thanks to its institutional catalyst and the fact that it held its key support on the session. BTC is next, with at least a marginal bounce to show for the day. ETH is weaker on both momentum and relative performance, and TON is the clear laggard, already trading below its support zone with no obvious near-term catalyst to reverse the slide.
Buyers across the board need to produce follow-through, not just intraday bounces. With the Fear and Greed Index at 12 and leveraged positioning still skewed toward protection, any rally attempt that stalls at resistance risks becoming another sell-the-bounce opportunity for bears.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
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