Bitcoin Returns to $60,000 as Spot ETF Outflows Reach $1.72 Billion

Bitcoin traded near $60,000 this week, matching levels last seen in early February. Spot bitcoin ETFs listed in the U.S. recorded $1.72 billion in net outflows during the most recent week, according to data from SoSoValue. The same ETFs posted $318 million in net outflows during the first week of February when bitcoin prices also fell toward $60,000.

Outflows have now increased for four consecutive weeks, rising from $1 billion in the week ended May 15 to $1.26 billion, then $1.42 billion, and finally $1.72 billion.

February, outflows slowed as prices declined.

The two weeks before the early-February low saw $1.33 billion and $1.49 billion leave the ETFs, after which redemptions eased to $318 million when prices reached the $60,000 area.

The current sequence shows the opposite movement.

Outflows have accelerated while prices fell, leaving no reported institutional purchases to offset the redemptions. Bitcoin changed hands near $62,000 at the time of the report.