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Bitcoin tests $60,000 support as dollar, yields pressure persists

Bitcoin has entered a deep undervaluation zone on on-chain indicators, but whether the $60,000 support holds depends on the dollar and U.S. Treasury yields, an analysis said. Glassnode cited a drop in the dollar index below 99 or a decline in the 10-year U.S. yield to the 4.2 percent range as conditions for a rebound. It said spot demand and corporate buying have weakened, while options markets price greater downside risk.

Crypto

Bitcoin spot ETFs extend outflows, key focus on $60,000 and FOMC

Bitcoin spot exchange-traded funds have seen about $2.1 billion in net outflows so far in June, nearing May’s total net outflows of $2.4 billion. Total net assets in bitcoin spot ETFs fell to $77.0 billion from $109.0 billion since May 10, while bitcoin slid 27 percent at one point. Analysts cited arbitrage redemptions, fee-driven fund rotation and shifts into AI stocks and planned IPOs, while macro uncertainty and inflation remain in focus.

Crypto

Bitcoin selling pressure persists as rate burden grows on strong U.S. jobs data

Bitcoin extended a six-day decline, moving closer to a retest of $60,000. Cointelegraph reported the drop deepened after the U.S. stock market opened, leaving bitcoin down about 16 percent over a week. Traders cited continued sell-side dominance and weakening short-term charts, though some indicators suggested selling was easing. Stronger-than-expected U.S. May jobs data and upward revisions to April payrolls added to pressure by reducing expectations for Federal Reserve rate cuts.