Bitcoin price prediction: Can $61,471 resistance hold? BTC trades flat

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Bitcoin gains 0.17% at $60,093 today

Highlights

U.S. spot Bitcoin ETFs saw $1.79 billion in net outflows over the week, intensifying sell-side pressure across the market.
Persistent institutional redemptions, led by BlackRock’s IBIT, signal waning large-holder participation and exacerbate available supply concerns.
Technical outlook is bearish with short-term support at $59,722; Bitcoin is likely to consolidate between $58,300 and $61,471, with downside risk prevailing.

Institutional outflows drive renewed sell pressure amid major ETF redemptions

Spot Bitcoin ETFs in the U.S. recorded net outflows of $1.79 billion for the week ending June 26, increasing available supply and adding measurable sell-side pressure, according to Weex. These outflows marked the seventh consecutive week of institutional redemptions, pointing to a sustained withdrawal of capital from the ETF segment. BlackRock’s iShares Bitcoin Trust (IBIT) represented the bulk of outflows in June 2026, as noted by Kucoin, underscoring concentrated selling among major holders. Supply-side dynamics continued to evolve, with News Bitcoin reporting only 1.2 million BTC left to be mined and current daily issuance near 450 BTC.

Mixed momentum with sell signals as technical barriers hold

On the technical front, BTC is above the 20-day moving average but continues to trade below the 50-day and remains well under the 200-day indicator. Immediate support is defined by the Ichimoku Kijun at $59,722. The Moving Average Convergence Divergence (MACD) signals strong sell momentum, while the Average Directional Index (ADX) also indicates persistent selling pressure. The Relative Strength Index (RSI) stands at 49.42 (Sell) and the Stochastic RSI is in overbought territory, whereas the Commodity Channel Index (CCI) reads neutral. Bull/Bear Power shows intraday dominance by buyers, and the Awesome Oscillator is neutral, with mixed momentum and oscillator readings highlighting volatility risk.

Downside favored as range-bound trade hinges on key support

Over the next two to three trading days, Bitcoin is expected to consolidate within a typical volatility band between $58,300 and $61,471. The probability of an upward move is estimated at 30%, while the chance of a decline is higher at 70%, suggesting downside remains more likely in the short term. If support at $59,722 holds, range-bound trading is anticipated; however, a break below this level could open the way for further weakness, while a decisive move above local resistance would be required to trigger any bullish scenario.

Viktoras Karapetjanc, analyst at Traders Union, notes ongoing institutional outflows from U.S. spot Bitcoin ETFs and sees persistent sell-side pressure reflected in both market dynamics and technical indicators. He believes that, despite the strong withdrawal from funds like IBIT, long-term supply constraints due to mining fundamentals remain supportive of Bitcoin’s structural outlook. In his view, current price action suggests a short-term consolidation, but constructive sentiment persists while key support holds. "Supply-side dynamics are tightening, so I remain constructive on Bitcoin’s intermediate outlook if $59,722 support stays intact."

Earlier, analysts noted that persistent institutional outflows and ongoing technical weakness were contributing to a bearish outlook for Bitcoin. The latest data reinforces this negative bias, making the $59,722 support level a crucial area to monitor for potential breakdown and increased volatility in the coming sessions.

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.