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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Amid a sudden shift in institutional sentiment toward digital assets, Bitcoin is facing sharp downward pressure that threatens to breach key technical support levels. According to reports, spot Bitcoin ETFs saw approximately $10.01 billion in combined negative netflows on June 3, reflecting a significant cooling in institutional demand. This exodus coincides with the price testing the critical psychological support level of $60,000, driven by intensifying selling pressure from large-scale holders.
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Sign InThese movements occur as the market observes a notable surge in "whale" activity, with deposits to the Binance exchange doubling, signaling a potential move by major investors to liquidate positions or hedge against further declines. Compared to broader market trends, the crypto sector remains highly sensitive to US macroeconomic data, particularly following Fed Chair Powell's speech on May 31 (per economic calendar data), which maintained a cautious stance on interest rates and dampened appetite for risk assets.
Traders should closely watch Bitcoin's daily close, as the price hovered near the $60,000 mark (close June 5, 2026). A sustained break below this level could open the door for further downside toward secondary support zones. Looking ahead, the market will focus on upcoming catalysts including the US ISM Manufacturing PMI data, which may provide further clarity on economic resilience and the future trajectory of monetary policy.