Bitcoin Price Dives Below $60K Amid ETF Outflows, Fed Hawkishness
Bitcoin's price plummeted below $60,000 in June 2026, marking its lowest point since late 2024. This downturn was driven by a combination of factors, including retail traders exiting the market and a significant outflow of funds from exchange-traded funds (ETFs) totaling $6.4 billion.
The Federal Reserve's hawkish interest rate stance and a shift in investor focus to AI and tech stocks also contributed to Bitcoin's decline. Additionally, Strategy's first sale of Bitcoin since 2022 further fueled the sell-off, which saw long-term holders realizing $2.4 billion in losses.
However, indicators suggest that selling pressure may be easing, with attention now focused on ETF flows, Fed policy, and whether Strategy's sale is a one-time event or a sign of broader selling.