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Sign InAmid weakening risk appetite in crypto markets, Bitcoin is trading in the low $60,000s ahead of a $10.6 billion quarterly options expiry on June 26. Data shows Bitcoin ETFs saw $469 million in net outflows, weighing on sentiment, while negative gamma contributes to the fragile hold above $60K.
The ETF outflows reflect cautious positioning by institutional investors, as the market braces for the quarterly expiry — one of the largest this year by notional value. According to market data, the $10.6 billion in open interest could trigger heightened volatility around the settlement date.
Looking ahead, the quarterly expiry on Friday is the key catalyst. Investors will watch whether ETF outflows stabilize as a sign of recovery. If Bitcoin holds $60K, a relief rally is possible after expiry, but a break below could open the door to $58,000 support, per analyst estimates.