Bitcoin falls below $62,000 after new Strategy sale
Bitcoin fell on Monday as renewed pressure from spot bitcoin ETF withdrawals and a sale by Strategy hit market sentiment. The decline put institutional demand back at the center of the market after a brief rebound failed to erase concerns about steady capital outflows.
Highlights
- Bitcoin fell 3.04% to $61,655.
- Spot bitcoin ETFs lost $526.64 million last week.
- ETF outflows continued for an eighth straight week.
- Strategy sold 3,588 BTC for about $216 million.
Bitcoin plunged 3.04% to $61,655. U.S. spot Bitcoin ETFs recorded net outflows of $526.64 million during the shortened trading week from June 29 to July 3, Incrypted reported.
ETF withdrawals remain the main pressure point
Spot Bitcoin ETFs have now ended eight consecutive weeks with net outflows. Over that period, total withdrawals from the products exceeded $8.2 billion. The latest week was shortened by the U.S. Independence Day holiday, but the reduced number of sessions did not prevent another negative result.
Daily ETF flows showed how fragile demand remains. Investors pulled $231.10 million from spot Bitcoin ETFs on June 29, $222.64 million on June 30, and $294.62 million on July 1. A $221.72 million inflow on July 2 helped offset part of the decline, but it was not enough to reverse the week’s losses.
The ETF data matters because the products have become one of the clearest indicators of institutional appetite for Bitcoin. Persistent outflows reduce a major source of spot demand and make the market more sensitive to selling by large holders.
Strategy sale adds to market concerns
Pressure also came from Strategy, the Bitcoin-focused company founded by Michael Saylor. The firm sold 3,588 Bitcoin last week and raised about $216 million to fund dividends on preferred stock.
The sale drew attention because Strategy has long been one of the most visible corporate holders of Bitcoin. The company still holds about 843,775 BTC, worth roughly $52 billion, but the transaction raised questions about whether cash obligations could lead to additional sales.
Demand signals weaken
Bitcoin’s drop shows how quickly sentiment can shift when ETF demand and corporate treasury activity both turn negative. A single day of ETF inflows last week did not offset broader withdrawals, and Strategy’s sale added a separate source of supply pressure.
For traders, the near-term focus is whether Bitcoin can hold around the $60,000 level. A break below that area would likely deepen concern that the recent rebound lacked durable demand. A recovery would require stronger ETF inflows and less pressure from large holders.
We also reported Metaplanet expands Bitcoin treasury despite market downturn.
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