Bitcoin is grinding toward what analysts say is its most consequential technical juncture in months, weighed down by $469 million in single-day exchange-traded fund outflows, a deeply negative gamma profile, and a $10.6 billion quarterly options expiry on Friday that some say could break the range in either direction.
The foremost cryptocurrency fell as low as $59,000 on June 24 before recovering slightly to around $61,500, according to The Block's prices page.
Institutional print
SoSoValue data for June 24 shows U.S. spot bitcoin (BTC) ETFs recorded a net outflow of $469 million for the session, with Grayscale's Bitcoin Mini Trust ETF the sole notable exception, pulling in $23.5 million in net inflows.
On the Ethereum (ETH) side, spot ETFs saw $30.2 million in outflows, with Fidelity's FETH accounting for the largest single withdrawal at $15.7 million. The data signals that the ETF picture has deteriorated sharply over the past month.
