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The Economic Times
Bitcoin (BTC USD) price drops toward the $60,000 level as two major buyers pull back
Bitcoin (BTC USD) continues its downward trend, nearing the $60,000 mark as two major buying sources reduce their purchasing. Spot ETFs have seen a dramatic outflow of over $5.72 billion since mid-May, while digital asset treasury firms have shifted their strategies from aggressive acquisition to cautious holding. This tightening of demand has led to reduced buying support, exacerbating Bitcoin's price decline. Analysts indicate that the retreat of these key market players denotes a lack of confidence and a potential longer-term bearish sentiment in the cryptocurrency market.
MonitorConfidence: HighShort term horizon
Published 12 Jun 2026, 00:30 UTC6 min read
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Summary
TL;DR
- Bitcoin price approaches $60,000 amid declining demand.
- Significant outflows from spot ETFs exceed $5.72 billion since May.
- Corporate treasury firms are reducing their net buying activity.
- Market confidence wanes as capital exit increases selling pressure.
- Shift from aggressive buying to caution signifies reduced market support.
Interesting facts
- In April and May, treasury firms were purchasing over $500 million per day in Bitcoin.
- The current market conditions mark a notable reversal in buying strategies from key investment sources.