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Bitcoin price nears $60,000 support amid ETF outflows and increased whale selling on Binance.

Market News
05 Jun 2026, 10:23 WIB
Crypto news
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Bearish
Bitcoin price nears $60,000 support amid ETF outflows and increased whale selling on Binance.

Bitcoin price dropped to around $61,925 on June 5, pressured by ETF outflows, a rare sale by Strategy, and a surge in large whale deposits on Binance. The $60,000 level has become a critical support after Bitcoin fell sharply from highs above $74,000, with sentiment turning bearish as traders watch for a potential move toward $55,000 if support breaks. ETF demand has weakened with 13 consecutive days of outflows, while large holders moving coins to exchanges signals short-term selling risk. Market watchers see this as part of a capital rotation linked to AI investment rather than a fundamental Bitcoin impairment, but near-term price action depends on whether bulls can defend key levels.

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