Bitcoin is hovering near the $60,000 mark as US spot Bitcoin exchange-traded funds recorded weekly outflows totaling roughly $1.79 billion, signaling waning short-term investor demand. The pullback coincides with rising market concern over the prospect of further Federal Reserve rate moves, which tend to pressure risk assets, alongside a broader sell-off in AI-related equities. Analysts note that Bitcoin is testing a key support level, and a sustained break below could open the door to deeper declines. The combination of macroeconomic uncertainty and reduced ETF inflows has weighed on sentiment across digital assets. Market participants are closely watching whether the support holds or gives way amid the dual pressures of monetary policy expectations and weakness in technology stocks, both of which continue to shape the near-term trajectory for cryptocurrencies.
— Sponsored —
Trade smarter on BYDFI
Get a bonus on your first deposit — from $50 at $100, up to $2,000 at $20k. 200x leverage, 600+ perpetuals, deep liquidity.