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Bitcoin fell below $60,000 as U.S. spot ETFs recorded $4.06 billion in June outflows.
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Institutional demand weakened while macroeconomic uncertainty continued pressuring Bitcoin prices.
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Analyst Ted Pillows expects Bitcoin could decline another 60% to 65% before bottoming.
Bitcoin — BTC, has entered another difficult stretch as selling pressure continues across the market. A sharp wave of withdrawals from U.S. spot Bitcoin ETFs has added fresh concern among investors. Institutional demand has weakened while macroeconomic uncertainty keeps traders cautious. With Bitcoin now trading below $60,000, many investors wonder whether another deeper correction could follow before a lasting recovery begins.
Spot Bitcoin ETFs Saw $1.79B in Net Outflows Last Week, Third-Highest Weekly Outflow on Record
From June 22 to June 26 (ET), spot Bitcoin ETFs recorded net outflows of $1.79 billion, marking the third-highest weekly net outflow on record. Spot Ethereum ETFs saw net outflows of… pic.twitter.com/6CDFFVY68L
— Wu Blockchain (@WuBlockchain) June 29, 2026
Bitcoin ETFs Face Heavy Selling Pressure
BTC seems set to end the second quarter with a 13% loss. Such a result would mark only the third time that Bitcoin posted back-to-back quarterly declines. That statistic alone shows how difficult 2026 has become for the largest cryptocurrency. Institutional investors have continued pulling money from U.S. spot Bitcoin ETFs. Data from SoSoValue shows June recorded $4.06 billion in net outflows. That figure broke the previous monthly record of $3.56 billion from February 2025.
Selling pressure accelerated during the past week. Investors withdrew roughly $1.79 billion from these funds. That became the second-largest weekly outflow since spot Bitcoin ETFs launched during January 2024. June did not represent an isolated event. May also recorded $2.43 billion in net redemptions. Combined withdrawals across both months now approach $6.5 billion. Year-to-date outflows have reached roughly $5 billion during the first half of 2026.
Many market participants monitor ETF activity as a measure of institutional confidence. Recent figures suggest larger investors have reduced exposure while uncertainty continues rising. Weak institutional demand has closely followed Bitcoin’s recent price decline.Bitcoin has also lagged behind many major financial assets this year. Strategy, formerly MicroStrategy, has struggled even more. Shares of the company have dropped 45% since January, reflecting weaker sentiment across Bitcoin-related investments.
Macro Risks Continue Pressuring Bitcoin
Broader economic conditions have added another layer of pressure. Recent inflation data and strong employment figures support expectations that the Federal Reserve could keep interest rates higher for longer. Markets have even started considering possible rate increases later this year. A stronger U.S. dollar has also reduced demand for risk assets.
Digital assets often struggle when investors favor safer investments and cash. Geopolitical tensions have added fresh uncertainty. Reports of renewed activity near the Strait of Hormuz unsettled financial markets during the weekend. Later reports suggesting renewed negotiations between the United States and Iran helped calm some concerns. Even so, investors remain cautious.
Crypto analyst Ted Pillows believes the correction may continue. He noted previous Bitcoin bear markets ended after declines between 78% and 87%. Pillows argued many investors now expect a shallower decline. However, he believes Bitcoin could still fall between 60% and 65% before reaching a final bottom. Bitcoin now faces pressure from several directions.
