Bitcoin dropped below $60,000 on June 24 as exchange inflows, spot ETF outflows and leveraged long liquidations intensified selling pressure.
The cryptocurrency traded near $59,340, down more than 4 percent over 24 hours and 9 percent over seven days. Data showed roughly 7,600 BTC moving into Binance while US spot Bitcoin ETFs recorded net outflows of about $6.35 billion over the past 30 days.
US investor demand weakened further, with the Coinbase Premium Index remaining negative and Bitcoin's cumulative return during American trading hours at about minus 15 percent over the past month. Long liquidations clustered near $59,650 to $59,670 as the price moved through support.
Shares of Strategy fell below $100 for the first time since March 2024, extending losses tied to the broader Bitcoin decline. Analysts noted that $57,300 now emerges as the next potential liquidation level if selling continues.
Traders are watching whether exchange inflows slow and ETF flows stabilize, which could support a relief bounce, or whether continued outflows confirm $60,000 as failed support.
