As the bear market strengthens its grip on the cryptocurrency market, BTC price is falling more every day. Bitcoin last week It fell below 60 million won for the first time. It marks the lowest point in the cycle since October 2024. While overall market sentiment has weighed heavily on cryptocurrencies, there are several other key factors driving the recent decline. The decline in spot Bitcoin ETFs has put additional pressure on BTC, while ongoing geopolitical tensions have heightened investor uncertainty. Bitcoin could face further losses if these pressures are not eased soon, analysts have warned: Sharp decline towards $50,000.
BTC price crashes as ETF sees series of outflows.
Bitcoin has fallen more than 18% in the past 14 days, according to CMC data, marking a massive drop in the value of the blue-chip cryptocurrency. After plummeting to $59,000 last week, BTC is currently trading above $62,000, signaling a short-term rebound. Despite some recovery, Bearish conditions still weigh heavily on pricesThe market is showing no clear signs of a rebound.
In particular, one of the main drivers of the continued BTC decline is Massive Outflows Observed from Spot Bitcoin ETF. As of June 3, 2026, the Bitcoin ETF has recorded its 13th consecutive outflow, its longest losing streak in its entire history. This decline shows how far the market has fallen and how far it has fallen. Investors are still cautious.
SoSo value report From May 15 to June 3, the U.S. Bitcoin spot ETF suffered significant outflows, recording a massive outflow of more than $4.37 billion in less than two weeks. Interestingly, the Bitcoin ETF ended its record 13-day streak with net inflows of $3.05 million on June 5. However, these gains did not carry over into the following days as there was a larger outflow of $325.69 million from the ETF on June 5. This indicates that investors are inherently fearful, especially since the market remains uncertain. Next price direction for BTC.
IBIT Dominates Bitcoin ETF Outflows
Blackrock’s IBITthe largest spot Bitcoin ETF, was the clear leader in large-scale ETF outflows. IBIT accounted for about $3.3 billion of the $4.37 billion outflow, or about 75% of the total outflow over the 13-day period. Fidelity’s Wise Origin Bitcoin Fund came in second with $456 million in sequential outflows. meantime, GBTC in grayscale It recorded outflows of $303 million, which is significant but still far behind the other two.
overhead, BlackRock’s Dominance in the Bitcoin ETF Market This means that institutions will also take a huge hit when they withdraw. Grayscale’s GBTC, which has been suffering asset losses since the trust switch due to high fees of 1.5%, was actually a relatively small contributor this time. These long outflows have been the main driver of BTC’s recent price decline.
Featured image created with Dall.E, chart from Tradingview.com
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