Bitcoin price prediction: $61,616 support in focus as BTC slides 1.96%

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Bitcoin drops 1.96% to $62,739 today

Highlights

BlackRock launched the iShares Bitcoin Premium Income ETF (BITA), enhancing institutional access and covered call strategies for Bitcoin exposure.
$82.2 million flowed out of Bitcoin ETFs after the Fed held rates steady under new Chair Kevin Warsh, signaling investor caution.
Bitcoin trades below key moving averages, with technicals unanimously bearish and a high probability of continued decline toward $61,616 in the short term.

Institutional ETF launches expand as rate pause sparks outflows

BlackRock introduced the iShares Bitcoin Premium Income ETF (BITA) on June 18, 2026, marking a notable expansion of institutional investment products and enabling covered call strategies on Bitcoin holdings, according to Cryptobriefing. This development was accompanied by $82.2 million in outflows from Bitcoin ETFs following the Federal Reserve's decision to hold interest rates under new Chair Kevin Warsh, data from Farside Investors showed. BlackRock's Jay Jacobs noted that Bitcoin has become too significant to ignore in global finance, adding context to the increasing prominence of institutional engagement.

Bearish momentum prevails amid unified trend and resistance signals

BTC/USD is trading below the MA-20 at $63,204 and the MA-50 at $64,231 on the H1 chart, as well as below the MA-200 at $77,162 on the daily timeframe. The Ichimoku Kijun level at $63,480 is acting as the nearest resistance. Technical indicators show MACD on Strong Sell, ADX on Sell, and both RSI (33.66) and CCI signaling Sell. Stochastic RSI is Neutral, BBP indicates an intraday oversold condition, and the Awesome Oscillator remains Neutral. These readings confirm bearish momentum with little divergence among momentum or volatility signals.

High downside risk persists as range-bound trade dominates

In the short term, BTC/USD is expected to consolidate within the $61,616 to $63,861 range over the next 2 to 3 trading days, reflecting typical volatility band levels relative to current prices. The probability of upward movement remains very low, with downside probability high and a rebound scenario appearing unlikely. The baseline expectation is for continued trading within the defined range, with a bullish breakout contingent on a move above $63,480, while a drop below $61,616 could trigger further declines toward new local lows.

Anton Kharitonov, expert at Traders Union, sees continued weakness in Bitcoin as the price remains below all major moving averages and technical indicators point to sustained bearish momentum. He notes that outflows from Bitcoin ETFs and the lack of bullish institutional flows, even after BlackRock’s new ETF launch, reinforce cautious sentiment. Kharitonov believes a rebound is unlikely unless resistance at $63,480 is cleared, with further declines possible if support at $61,616 fails. "Base case remains range-bound trading; risk stays to the downside until bulls reclaim $63,480."

Previously it was reported that Capital B shareholders authorized a significant expansion of the company’s Bitcoin financing program to accelerate accumulation of the asset. In the current context, as institutional interest broadens with new products like BlackRock’s BITA ETF amid persistent bearish technicals, traders should monitor the $61,616 and $63,480 levels for signals of a directional breakout from the current consolidation range.

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.