- Bitcoin ETF outflows remain negative for 11 days in a row, putting pressure on BTC.
- Liquidations amounting to $749 million accelerated the decline in Bitcoin prices.
- The RSI below 18 shows oversold conditions, but the trend remains bearish.
Bitcoin (BTC) has been under continued pressure, trading around the $63,548 level after a sharp multi-week decline that erased much of its recent rebound.
Notably, Bitcoin’s price decline reflects a combination of institutional selling, forced liquidations, and weak market structure that continues to dominate short-term price action.
Although technical indicators are now showing deeply oversold conditions, broader capital flow indicates that downside risks remain active.
The current setup places Bitcoin in an area where short-term respite rallies are possible, but a sustainable recovery has yet to take shape.
Bitcoin ETF outflows significantly impact the price of BTC
One of the most consistent pressures on Bitcoin has been the ongoing withdrawal of capital from U.S. Bitcoin exchange-traded funds.
The data shows a stretch of 11 straight days of net outflows, including a recovery of nearly $519 million in a single day on June 2.
Over the past 10 days from May 25, 2026 to June 3, 2026, Bitcoin ETFs saw over $3 billion worth of outflows according to Coinglass data.
This pattern has effectively removed a major source of sustained institutional demand.
According to Citi analysts, ETF flows account for about 45% of the weekly return variance, highlighting how strongly prices are now responding to the institutional situation.
With inflows turning negative for about two weeks, Bitcoin was left without its primary demand driver at a time when selling pressure was already high.
This shift is important because ETFs previously absorbed large amounts of Bitcoin supply during the recovery phase.
The current reversal means that instead of acting as a stabilizing force, ETFs are now contributing to the downward momentum.
Without a clear return of net inflows, it will remain difficult to maintain price stability above the mid-$60,000 range.
Liquidations and aggregate pressures are amplifying this decline
In addition to outflows from ETFs, leveraged positions in the financial derivatives market contributed to the worsening of the economic crisis.
More than $749.982 million of leveraged long positions were liquidated during a 24-hour period during the sell-off, according to market data.
These forced closures have accelerated the price movement downward rather than allowing a gradual adjustment.
Bitcoin’s decline below key technical areas triggered additional selling, reinforcing the cascading effect as lower prices trigger more liquidation pressure.
At the same time, macroeconomic conditions have reduced public appetite for risky assets.
Strong US employment data has pushed expectations for further Fed rate cuts in the future, reinforcing a “higher for longer” interest rate environment.
This has led to a decrease in the flow of liquidity into speculative markets, including cryptocurrency markets.
In addition, geopolitical tensions, particularly renewed instability related to Iran and concerns about broader global risks, contributed to defensive postures across financial markets.
In this environment, Bitcoin has continued to trade in line with high-risk assets rather than acting independently.
The technical structure shows oversold conditions but no confirmed reversal
From a technical perspective, Bitcoin is showing some of the most extreme oversold readings in recent months.
The 14-day RSI has fallen to around 17.7-18, a level that typically reflects the exhaustion of sell-offs.
Historically, readings this low often precede short-term relief rallies.
However, other technical indicators present a more cautious picture.
Bitcoin is currently trading below all major EMAs, including the 10-day, 20-day, 50-day, 100-day, and 200-day EMAs. This alignment indicates a strong downtrend across multiple time frames.
looking at Bitcoin price forecast in the short termThe immediate support area is near $62,964, while the broader structural floor is around the $60,000 area, which is also consistent with longer-term trend indicators.
A breakdown below $62,964 will increase the likelihood of a move towards lower liquidity areas near $60,000 and perhaps $55,000.
On the upside, Bitcoin will need to close above $69,124 to shift momentum in the short term. If this level is reclaimed, the next resistance area would be positioned near $71,589, which could indicate early signs of a structural recovery.
But even then, the trend remains heavily influenced by downward momentum rather than reversal signals.
