Bitcoin Plunges Below $60K as ETF Outflows Top $1.2B

Bitcoin plunged below $60,000 on June 5 for the first time since 2024, touching an intraday low of $59,787 amid record spot-Bitcoin ETF outflows exceeding $1.2 billion. The selloff began June 2 after Strategy disclosed its first bitcoin sale in years (32 BTC), triggering cascading liquidations that erased $176 billion in market cap and drove the price below $67,000. By June 4, BTC had reached a four-month low of $61,311 before extending losses, with over $3.7 billion redeemed from U.S. ETFs in three weeks and the Fear & Greed Index at 12.