Bitcoin faces slump as retail traders exit and ETF outflows hit $6.4 billion

Bitcoin dropped below $60,000 in June 2026, hitting its lowest level since late 2024, as retail traders fled the market, ETF investors yanked billions in capital, and even one of crypto’s most famous corporate believers started selling. US spot Bitcoin ETFs hemorrhaged $6.4 billion over a 30-day stretch, including a single-day net withdrawal of $696.3 million on the session Bitcoin breached that psychologically painful $60K floor. Long-term holders, the group that’s supposed to have diamond hands, realized roughly $2.4 billion in losses during the downturn. What drove the sell-off Three forces converged to create this particular brand of misery. First, the Federal Reserve maintained a hawkish posture on interest rates, keeping borrowing costs elevated and making risk assets less attractive on a relative basis. Second, investor attention shifted toward AI-related stocks and technology plays. The rotation was visible across retail brokerage platforms, where engagement with crypto positions declined as traders chased the latest earnings beats from chipmakers and cloud infrastructure companies. Third, and perhaps most symbolically significant, Strategy, formerly MicroStrategy and ticke...