BIT: BTC Shows Signs of Rebound After Dropping to Around $60,000; Focus Shifts to ETF Flows and CPI Data

Odaily Odaily reports that the BIT market weekly report indicates the crypto market continued its weak trend last week. BTC fell from approximately $73,400 on June 1st to around $63,100 on Monday morning, with an intraday low of about $61,400 on June 4th. ETH also faced pressure, declining to around $1,680.

BIT stated that the core factor behind this round of adjustment remains liquidity pressure. BTC spot ETFs have experienced net outflows for 13 consecutive trading days, totaling approximately $4.4 billion. Concurrently, whale selling and the expected transfer of Mt. Gox-related wallets have further intensified market selling pressure.

The report notes that as BTC approaches the key support level of $60,000, the market has seen an initial rebound in the last 24 hours. Future trends will largely depend on whether ETF inflows can resume, if the $60,000 support level holds, and the impact of this week's US CPI data on market risk appetite.