Bitcoin Holds Near $61k as $4.4B ETF Outflows Extend Liquidity Squeeze

Bitcoin trades around $60,800-$61,500 after a week-long slide from above $67,000, pressured by record U.S. spot-Bitcoin ETF outflows totaling $4.33-4.4 billion since mid-May. The 13-day redemption streak, led by BlackRock’s IBIT, triggered more than $1.7 billion in leveraged liquidations and erased roughly $160 billion in market value. Selling began with a $3 billion outflow wave on June 1, accelerated after Strategy Inc. sold 32 BTC, and coincided with capital rotation into AI equities plus anticipation of the SpaceX IPO. On-chain metrics show over half of supply underwater while futures open interest remains elevated, leaving markets vulnerable to further downside unless flows stabilize.