$BTC is trading around $62k after a volatile week. It dropped ∼18% to test $60k before bouncing, but the bounce looks shaky.
*What’s driving it:*
1. *ETF outflows*: US spot BTC ETFs saw $1.72B in net outflows last week - the 4th straight week of withdrawals and the biggest since April 2025. Institutional selling is still the main headwind.
2. *Macro pressure*: Middle East tensions and expectations of higher Fed rates are weighing on risk assets.
3. *Low conviction bounce*: Volume on the recovery is light compared to the selloff, which usually means it’s not a bottom yet.
*Key levels:*
- *$60k*: Critical support. A 3-day close below here would likely trigger more selling toward $50k.
- *$61.8k*: The 200-week moving average sits here. Holding above it keeps the long-term uptrend intact.
*Bottom line*: Short-term risk is still to the downside unless ETF flows flip pos
itive. If they do, a recovery toward $65k-$68k is likely. For now, it’s a “prove it” market - BTC needs to hold $60k and show real buying volume.
#SBFSeeksPresidentialPardonFTTJumpsOver50Percent #Over200CryptoGroupsUrgeSenateCLARITYActVote