According to the market review by BIT Official Chinese (@BITofficial_CN), the overall crypto market faced pressure last week, with BTC falling from approximately $73,400 on June 1 to around $63,100 by Monday, briefly dipping to a low of $61,400 during intraday trading; ETH followed suit, declining to approximately $1,680. On the funding side, BTC spot ETFs experienced 13 consecutive days of net outflows, totaling approximately $4.4 billion, compounded by concerns over whale sell-offs and transfers from the Mt. Gox wallet, continuing to amplify short-term selling pressure. As BTC approaches the key support level of $60,000, the market has shown initial signs of rebound over the past 24 hours; subsequent price movements will depend critically on whether ETF funds begin to flow back in, whether the $60,000 support holds firm, and the impact of this week’s CPI data on risk sentiment.
BTC Approaches $60K Support Amid Crypto Market Weakness
TechFlowShare
Summary
Last week, the BTC price dropped below $63,100, falling from $73,400 on June 1. The BTC market update shows ongoing pressure, with a low of $61,400 and ETH near $1,680. BTC spot ETFs experienced $4.4 billion in outflows over 13 days. Whale selling and activity from Mt. Gox wallets contributed to the downward trend. The BTC price has stabilized near $60,000, with a rebound likely if support holds and CPI data does not disrupt the trend.
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