Bitcoin Drops Below $60K as U.S. Spot ETF Sees Seventh Consecutive Week of Outflows

According to SoSoValue data, U.S. spot Bitcoin ETFs experienced net outflows of $1.35 billion this week, marking the seventh consecutive week of fund withdrawals from the market. Bitcoin fell below the $60,000 level on Friday (June 26), trading at $59,157.50 amid persistent selling pressure, with a weekly loss exceeding 6%.

Analysts attribute the decline to multiple factors: sustained ETF redemptions signaling cooling institutional and retail interest in crypto, hawkish signals from the Federal Reserve, and elevated interest rates dampening Bitcoin's investment appeal as a non-yielding asset. Meanwhile, capital continues flowing toward AI-related equities, which have delivered significantly stronger returns than cryptocurrencies.