Bitcoin price prediction: $58,504.33–$62,609.68 range in focus as BTC drops 3.14%

Traders Union
All News
Crypto News
Bitcoin slides 3.14% to $61,350 today

Highlights

Demand for the SpaceX IPO soared to $250 billion, prompting significant capital rotation out of Bitcoin holdings.
U.S. spot Bitcoin ETFs experienced a $91 million outflow and continued redemptions amid persistent institutional withdrawals.
BTC/USD remains under bearish pressure with sellers dominating, projecting a high probability of further decline toward $58,504.33–$62,609.68.

Capital rotation accelerates as SpaceX IPO absorbs crypto flows

Demand for the SpaceX IPO reached $250 billion on June 9, 2026, and coincided with reported selling of Bitcoin by crypto investors reallocating capital to the highly subscribed offering. U.S. spot Bitcoin ETFs recorded a one-day outflow of $91 million on June 8, with total assets dropping to $77.6 billion after a sustained multi-week period of redemptions, reflecting persistent institutional withdrawals from BTC exposure. The recent release of the U.S. strategic Bitcoin reserve bill (H.R. 8957/ARMA) introduced a 20-year lockup for federal holdings and quarterly public proof-of-reserve mandates, offering long-term regulatory clarity for government-owned BTC.

Oversold technicals persist as resistance and bearish signals align

BTC/USD is trading below its MA-20 and MA-50 on the hourly chart, with the MA-200 on the daily timeframe also overhead. The Ichimoku Kijun level at $62,153.01 marks immediate resistance. Momentum indicators — MACD and ADX — are in sell mode. RSI, Stoch RSI, and CCI all reflect oversold conditions, indicating sellers may be overextended intraday, while BBP still points to continued seller control. The Awesome Oscillator confirms the prevailing downward trend, and price is near today’s low with moderate volatility.

Further downside risk elevated as range-bound trade dominates

BTC/USD is expected to fluctuate between $58,504.33 and $62,609.68 within the next one to two trading days. The likelihood of a further decline is pronounced, and the chance for short-term reversal is low under current conditions. As a baseline, consolidation within this volatility band is anticipated, with a bullish breakout requiring a close above local resistance and a bearish scenario possibly seeing price move toward the lower boundary of the range.

Anton Kharitonov, expert at Traders Union, sees persistent downside for BTC, with the SpaceX IPO-driven capital rotation and sustained ETF outflows weighing heavily on sentiment. Technical signals confirm the bearish momentum, and the recent federal reserve bill, while clarifying, has little short-term impact. He remains cautious as sellers control the trend and price remains under key moving averages. "Until Bitcoin reclaims the $62,153.01 resistance, the risk of further downside stays elevated and I am not looking for reversals yet."

Previously it was reported that Circle launched cirBTC a tokenized Bitcoin product designed to enable institutional DeFi participation and increase BTC liquidity in onchain markets. With recent institutional outflows from Bitcoin and heightened volatility, further downside risks persist, making $58,504.33 a critical support level for market participants to monitor in the near term.

Source of Data: BTC Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.