Coinspeaker
Jun 26, 2026
13 2
Bearish

Bitcoin holds near $60K after ETF outflows and $850M liquidations

2 min

Bitcoin Drops Below $60K as ETF Outflows and MSTR Leverage Weigh on Market

Bitcoin is trading near $60,400 after briefly dipping below $60,000 — its lowest level since October 2024 — extending a -16% decline from recent highs. About $850M in crypto long positions were liquidated in 24 hours ahead of $10B in BTC options expiring on Deribit (CoinGlass).

Pressure has intensified with seven straight weeks of US spot Bitcoin ETF outflows, eroding a key post-ETF-approval support structure.

MicroStrategy (MSTR) shares fell another 8%, now down 84% from peak, while STRC dropped 7%, raising yields to 15.3%. Gold advocate Peter Schiff blamed their declines for sending BTC as low as $58K.

Support now sits at the $60,000 psychological level, with the 200-week MA near $57,926 as the first major floor. Resistance appears at $63,400–$66,000.

**Scenarios:**

  • Bull: Weekly close above $60K + return of ETF inflows could trigger a retest of $63K–$65K.
  • Base: Sideways between $58K–$60.5K while MSTR leverage concerns and macro data play out.
  • Bear: Drop below 200-week MA could open $54K and then $52K–$55K zone.

Momentum is weakening as retail rotates from crypto into AI stocks, removing a steady buyer base. Analysts warn this compounds expiry-driven volatility.

Technical sentiment is strained, and market focus is shifting towards early-stage Bitcoin Layer 2 infrastructure plays pitched as alternatives during drawdowns — such as projects addressing BTC’s speed, fees, and smart contract limitations via decentralized bridging technology.