Bitcoin Dips Below $60,000 as Monthly ETF Outflows Hit $2 Billion

Key Facts

In a significant shift for digital asset markets, Bitcoin has breached the critical $60,000 support level as total outflows from spot ETFs reached a staggering $2 billion in May. According to reports, Bitcoin ETFs saw net redemptions of $113.8 million on June 23, led by BlackRock’s IBIT fund, while Ethereum ETFs faced similar pressure with $82.4 million in outflows, signaling a broad institutional retreat from risk-on assets.

This price action marks a deepening correction, with Bitcoin falling over 6% from its previous consolidation range near $64,150. Market data indicates that the $2 billion outflow in May represents one of the most significant periods of institutional de-risking since the launch of the spot ETFs. This trend aligns with broader market volatility as investors pivot away from speculative assets amid shifting expectations for global interest rate trajectories.

Traders should now watch for new technical floors with Bitcoin trading below $60,000 and Ethereum at $3,420 (close of June 23, 2026). Looking ahead, the economic calendar features pivotal interest rate decisions from the SNB and the Bank of England on June 18, which will likely dictate global liquidity conditions and the subsequent appetite for digital asset instruments.