finance
Bitcoin Rises Above $64,250 as U.S. Bitcoin ETFs Record $315 Million Outflow
Bitcoin climbed above $64,250 on Saturday after a 10 percent rebound from its monthly low. U.S. spot Bitcoin ETFs posted a $315 million weekly outflow, bringing the two-month total to $4.4 billion.
Jun 13, 12:51 PM·1m read1 source
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Bitcoin rose above $64,250 on Saturday, supported by lower crude-oil prices and investor purchases at lower levels. The price has increased nearly 10 percent from its lowest point this month. U.S. spot Bitcoin ETFs recorded a $315 million net outflow during the week.
The weekly outflow lifted the monthly total above $2.4 billion. Combined with May's $2 billion loss, the two-month net outflow reached $4.4 billion. Benzinga reported that investors have shifted holdings toward U.S. equity funds focused on artificial-intelligence and space sectors.
The Coinbase Bitcoin Premium Index has stayed negative since April, indicating weaker demand from U.S. buyers relative to global markets.
Bitcoin futures open interest fell from more than $60 billion in May to $46 billion. On the daily chart, the price has formed a bearish pennant pattern consisting of a vertical decline followed by a symmetrical triangle. The cryptocurrency remains below its 50-day and 100-day moving averages.
A decline beneath the year-to-date low of $59,200 would extend the downtrend, according to the same analysis.
