Illustration of Bitcoin price dropping below 60,000 with charts and outflow visuals for a news article on crypto market decline.
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Bitcoin falls below $60,000 amid ETF outflows and weak demand

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Bitcoin dropped below $60,000 on June 24 as exchange inflows, spot ETF outflows and leveraged long liquidations intensified selling pressure.

BlackRock debuted its iShares Bitcoin Premium Income ETF, known as BITA, on Nasdaq on June 16. The fund provides Bitcoin exposure through a covered call strategy designed to generate monthly income. It trades alongside the firm's larger spot Bitcoin ETF, IBIT.

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Bitcoin rose above $64,000 on Saturday, marking an 8% gain from its June low near $59,000. Strong U.S. spot Bitcoin ETF inflows and optimism over a potential Iran peace deal supported the move. The cryptocurrency is on track to end a four-week losing streak.

Bitcoin climbed above $82,000 on May 6, driven by reports of easing tensions between the United States and Iran. Oil prices fell sharply as President Donald Trump paused a military operation in the Strait of Hormuz. The move triggered more than $200 million in short liquidations.

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BlackRock has introduced its first staking Ethereum ETF, ticker ETHB, on March 12, offering investors staking rewards previously unavailable in similar funds. Ethereum's price, trading at around $2,056, has been rising for four days but remains in a horizontal channel indicative of a bearish flag pattern. This development comes as existing Ethereum ETFs hold over $11.85 billion in assets without staking benefits.

The Bitwise Crypto Industry Innovators ETF offers a way to invest in the cryptocurrency sector. This fund presents potential rewards but requires investors to grasp its holdings. The Motley Fool highlights three key aspects for 2026.

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XRP has entered a correction phase, dropping over 15% from its year-to-date high, but technical indicators suggest a potential bullish reversal. Spot XRP exchange-traded funds saw inflows jump 47% last week, adding $56 million in assets. Ripple's recent regulatory approvals in Europe and the US bolster the token's outlook amid growing institutional interest.

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