Bitcoin News
By Julie Binoche
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Bitcoin Price Drops to Pre-Election Lows. Bitcoin started the month near $73,000. It didn't stay there.
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Jobs Report Adds Fuel to the Selloff. The U.S. jobs report last Friday didn't help. Markets across asset classes sold off hard despite…
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Sentiment and What the Numbers Actually Say. One day of inflows in roughly three weeks. That's the picture. June 4's $3.
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Bitcoin ETFs just had their worst week ever. A record $1.72 billion walked out the door in a single week, capping a brutal four-week stretch that's shaken confidence across the…
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Per data from SoSoValue, the damage has been building for weeks. Cumulative net inflows into Bitcoin ETFs dropped from $59.34 billion down to $53.
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Worth putting in context: this beats the early October crash.
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That earlier episode wiped out $19 billion in a single day among over-leveraged traders, which was ugly.
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Bitcoin started the month near $73,000. It didn't stay there. The price slid steadily, then broke hard, eventually touching $59,100 — a level not seen since before the 2024 U.S.
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The drop to $59,100 wasn't just a number. It marked a return to territory the market hadn't seen in months, erasing a significant chunk of the post-election rally that had pushed…
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And the ETF outflows didn't just reflect the price drop — they probably made it worse. Large-scale redemptions force fund managers to sell underlying Bitcoin holdings to meet…
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Read also: Bitcoin Plunges to $59K as 14-Session ETF Exodus Tops $5 Billion
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The U.S. jobs report last Friday didn't help. Markets across asset classes sold off hard despite what some read as positive economic data.
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The broader market selloff reinforced what the ETF data was already saying: investors are cautious, and that caution isn't limited to crypto.
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What's murky is whether the jobs report was genuinely the trigger or just the excuse. The outflows were already running well before Friday.
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One day of inflows in roughly three weeks. That's the picture. June 4's $3.05 million barely registers against the $519 million that left on June 2 alone. The math is stark.
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