Bitcoin (BTC) Price: U.S. Spot ETFs Record $4 Billion in Outflows as BTC Falls Below $60,000

TLDR

• U.S. spot Bitcoin ETFs recorded $4.06 billion in net outflows in June, the largest monthly redemption on record
• Bitcoin is trading below $60,000, down around 30% year-to-date
• BTC is on track for a second consecutive quarterly loss, down 13% this quarter
• The Federal Reserve’s hawkish stance and a stronger U.S. dollar are adding pressure
• Analyst Ted Pillows predicts Bitcoin could drop 60–65% before finding a bottom

Bitcoin is trading below $60,000 as June closes out, with the price sitting at around $59,765 on Monday. That puts BTC down roughly 30% for the year so far.

The quarter isn’t looking much better. Bitcoin is set to close Q2 with a 13% loss. That would make it only the third time in Bitcoin’s history that it has posted back-to-back quarterly losses.

U.S. spot Bitcoin ETFs have now logged $4.06 billion in net outflows for June alone, according to data from SoSoValue. That beats the previous monthly record of $3.56 billion set in February 2025.

Last week saw roughly $1.79 billion leave the funds, making it the second-highest weekly outflow since these ETFs launched in January 2024.

ETF Outflows Mount Through 2026

June’s outflows don’t stand alone. May saw $2.43 billion in net redemptions, bringing the combined two-month total close to $6.5 billion.

On a year-to-date basis, net outflows from spot Bitcoin ETFs total around $5 billion in the first half of 2026.

These products are closely watched as a gauge of institutional demand for Bitcoin. The scale of recent redemptions points to weakening appetite among larger investors.

The decline in institutional demand has tracked Bitcoin’s price drop. Bitcoin has underperformed nearly every major asset class in the first half of 2026.

Strategy (MSTR), the publicly listed firm that holds large amounts of Bitcoin, has fared even worse. Its shares are down 45% this year.

Fed Outlook and Geopolitical Pressure

Beyond ETF flows, Bitcoin is also being squeezed by macro factors. The Federal Reserve is expected to keep interest rates higher for longer, following recent data showing resilient inflation and a strong labor market.

A stronger U.S. dollar has added further weight to crypto prices. Markets have started pricing in the possibility of rate hikes later this year.

Geopolitical tension in the Middle East has also kept traders cautious. Reports of a brief flare-up near the Strait of Hormuz over the weekend unsettled energy markets before the U.S. and Iran reportedly agreed to resume negotiations.

Crypto analyst Ted Pillows (@TedPillows) weighed in on Bitcoin’s price trajectory, writing on X: “$BTC bottomed after 87% dump in 2015, 84% in 2018, and 78% in 2022. People are now thinking we’ll bottom after a 50% drop. IMO, Bitcoin will have at least a 60%–65% dump this time before the bottom.” His comments reflect growing debate about how deep this cycle’s correction may go.

Markets are now watching Friday’s U.S. employment report for clues on the Fed’s next move.

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