Bitcoin Steadies Near $62K as Strategy Buys 1,550 BTC Amid $5B ETF Outflows

Bitcoin has stabilized near $62,000 after briefly testing below $60,000 and falling roughly 10% on the week. Persistent record outflows from U.S. spot Bitcoin ETFs, now exceeding $5 billion over four weeks and $2.97 billion through May 30, have weighed on prices alongside heavy liquidations of $426 million. Offsetting some selling pressure, Strategy purchased 1,550 BTC for $101 million, while Grayscale Research highlighted that on-chain metrics such as MVRV Z-Score place BTC in a historically undervalued range. Earlier German government sales of 49,858 BTC at an average $57,900 in 2024 have now missed more than $2 billion in gains. Elevated transaction counts near record levels and a Crypto Fear & Greed Index at 9 signal extreme fear amid possible capitulation.