Bitcoin has fallen 26.8% since May 15 and has been trading around the cycle bottom near $60,000, as selling pressure persists. On June 6, 2026, analyst Darkfost said BTC dropped below the Power Law model’s 4% quantile, a level historically tied to heavy pessimism. At the time of writing, Bitcoin was $61,592 (+1.95% in 24 hours) while daily volume fell 56.14% to $31.21 billion.

Spot Bitcoin ETFs saw their heaviest weekly net outflow on record, with $1.72 billion pulled during the latest trading week. Over the same period, Bitcoin slid from around $73,000 to as low as $59,100, while total net inflows across the ETFs fell from $59.34 billion to $53.94 billion over four weeks.

Bitcoin's near-term direction is framed by two closely timed U.S. macro releases: the May CPI report on June 10 and the FOMC dot plot update on June 17. The analysis argues these events could drive a roughly ±10% BTC move by shifting rate-cut expectations, real yields, the U.S. dollar (DXY), and risk appetite. Key chart levels highlighted include $68,000 resistance and support around $63,500, with a daily close below $62,500 pointing to $60,000.

Bitcoin fell from above $82,000 to a Friday low of $59,000, briefly slipping under $60,000 before rebounding back above the level. ChatGPT called $60,000 a key psychological support and estimated roughly 40% odds of a break in the coming weeks versus 60% odds it holds and forms at least a medium-term bottom.

A stash of 47.26 BTC that had not moved since 2011 was recently transferred on-chain after remaining dormant for 15 years. The sending wallet is the address 18sLgPeB9wQVrE8JoWqtKtnucbsx3Lw1m7, identified as Defendant Address #37923 in the "Noah Doe" case seeking title to more than 3.7 million BTC across 39,000+ dormant addresses.

Bitcoin revisited the February low near $60k after sliding for three weeks, alongside signs of capital outflows and a shift in risk appetite. Transaction activity rose, with the 30-day moving average near 640,000 versus a prior 660,000 peak during the September 2024 correction, while miners' margins and hashrate weakened. Analysts also flagged elevated exchange inflows of 10k-12k BTC per day as a sign of ongoing sell pressure and a potential move toward $51k if capitulation persists.

Bhutan's sovereign investment arm Druk Holding and Investments (DHI) has sold more than $200 million worth of Bitcoin in 2026, shifting from building reserves to managing liquidity for infrastructure funding. Blockchain-based estimates indicate the country started the year with about 13,000 BTC and may now hold roughly 2,400–4,400 BTC after multiple transfers and sales. Analysts described the move as a staged program executed in smaller tranches rather than an attempt to time the market.

Bitcoin fell from $62,500 to around $59,000 after the May 2026 U.S. jobs report, and was last quoted at $59,990—down 6% over 24 hours and the lowest level since October 2024. The move came as spot Bitcoin ETFs logged 14 straight sessions of outflows nearing $5 billion, while CoinGlass data showed $545 million in liquidations on Friday, including $444 million in longs.