Bitcoin clawed back to $63,000 on Monday morning Singapore time, recovering from a 2026 low of $59,100 hit on June 6 after a brutal week that wiped roughly 13% from BTC's price in seven days. The relief rally, which pushed BTC above $63,500 in early Asian trading, followed a Friday selloff that saw the cryptocurrency fall below $60,000 for the first time since October 2025. Bitcoin was last fetching around $63,182, up 0.6% over 24 hours but still down 13.4% over the past week. The recovery came even as US spot Bitcoin ETFs posted a historic outflow streak of $4.33 billion across 13 consecutive trading days through June 3 — one of the longest such streaks on record. Notably, that streak ended with a small net inflow on Thursday, a development traders are watching closely for signs the institutional selling pressure has peaked.
James Seyffart of Bloomberg Intelligence has challenged the conventional wisdom about Bitcoin ETF investor behavior, arguing that most investors have remained invested despite significant volatility in underlying crypto assets. According to Seyffart's analysis, Bitcoin ETFs have recorded four consecutive weeks with more than $1 billion in net outflows, but the broader crypto ETF market remains more resilient than recent headlines suggest. He noted that roughly $9 billion has exited Bitcoin ETFs since their recent peak, but Bitcoin ETFs still hold roughly $50 billion-plus in cumulative net inflows since launch. Seyffart compared the current period to previous ETF cycles, where strong inflows were followed by periods of consolidation and withdrawals, emphasizing that ETF products are designed to provide liquid exposure, making periods of buying and selling a normal part of market behavior. The analyst suggested that 'a few steps forward and a few steps back' is a healthy pattern for an emerging asset class.
The week's direction will be heavily influenced by major macroeconomic events, with May CPI drops on June 10 and the Federal Reserve meeting on June 17 being particularly crucial. As reported by Crypto Week Ahead, traditional markets are bracing for the U.S. Inflation Rate YoY for May estimated at 4.2% (previous 3.8%) and Core Inflation Rate YoY estimated at 2.9% (previous 2.8%). A hot inflation reading could lock in a restrictive Federal Reserve stance and deepen recent spot ETF outflows. Futures assign over 95% probability of no rate change at the June meeting, but the CPI print will shape expectations for the second half of the year. A hotter-than-expected reading would further crush rate-cut bets and keep the dollar elevated — a headwind for crypto. A cooler print could provide relief. Additional key data includes ECB Interest-Rate Decision on June 11 estimated at 2.25% (previous 2.00%), China Inflation Rate YoY for May estimated at 1.3% (previous 1.2%), and U.S. Initial Jobless Claims for June 6 estimated at 218K (previous 215K).
Bitcoin needs to hold the $62,000-$63,000 support zone to maintain the recovery, with resistance sitting at $64,500-$65,000; a sustained close above that range would signal the worst of the selling has passed. Below $60,000, the next meaningful support is around $57,500. The June decline had multiple catalysts, with the trigger being a stronger-than-expected US nonfarm payrolls report on June 5 — the biggest jobs beat in 18 months — which effectively killed rate-cut expectations and pushed the dollar higher. Over $1.7 billion in crypto positions were liquidated in the 24 hours through Friday, the majority in long positions. Despite the volatility, investors remain focused on long-term demand drivers, including Bitcoin's disinflationary supply model and growing adoption as a store of value. The recent selloff saw capital rotating out of Bitcoin and other cryptocurrencies into equities and traditional safe-haven assets like gold and silver.
Bitcoin faces headwinds from multiple macroeconomic factors, including global equity market weakness and uncertainty surrounding U.S. tariff policies and geopolitical tensions. These factors have contributed to a broader risk-off environment, with investors favoring defensive assets. Additionally, recent events, such as the $1.5 billion Bybit hack, have further dampened sentiment in the short term. Adding symbolic weight to the selloff, Strategy (formerly MicroStrategy), the corporate Bitcoin reserve poster child with over 843,000 BTC, executed its first BTC sale in years — 32 coins for approximately $2.5 million to cover preferred stock dividends. The breach of Michael Saylor's "never sell" doctrine rattled market participants already nervous about the scale of ETF redemptions. Despite the optimism, Bitcoin continues to face challenges from heavy token emissions and tightening cross-asset liquidity, creating a double-barreled threat for the cryptocurrency market. However, Bloomberg's Seyffart noted that Solana and XRP ETFs have continued attracting assets despite launching during a difficult market environment, with neither category experiencing the same level of outflows seen in Bitcoin and Ethereum ETFs.
While traditional Bitcoin ETFs bled, a cohort of platform-specific DeFi ETPs attracted institutional interest even during the selloff. Bitwise BHYP, 21Shares THYP, and Grayscale HYPG — all focused on Hyperliquid protocol exposure — collectively drew over $150 million in inflows. The divergence suggests sophisticated capital is rotating from store-of-value crypto into yield-bearing DeFi infrastructure. Hyperliquid ETFs have also posted a strong debut, attracting roughly $161 million in assets since launching in May, according to Seyffart's analysis. Separately, the Senate is pushing to ease bank capital rules for crypto holdings — a long-term regulatory catalyst worth tracking for its potential to open traditional finance doors to Bitcoin. Conference activities include ETHConf (New York) and London Tech Week (London) from June 8-10. Looking ahead, investors are closely monitoring regulatory developments under the new U.S. administration, which could significantly influence Bitcoin's trajectory in the coming weeks. Seyffart expects growing demand for actively managed crypto ETF strategies that outsource asset selection to professional managers, as many advisors remain unfamiliar with staking, token economics and the nuances of individual crypto assets.
