NEW YORK, June 26, 2026, 13:04 EDT
- Bitcoin hovered close to $60,000. Earlier, it fell to $58,319 during the session.
- About 78% of the outflows from U.S. spot bitcoin ETFs over two days came from BlackRock’s IBIT and Fidelity’s FBTC.
- Funds and leveraged traders have the $60,000 level back in focus as a $10.6 billion options expiry hit.
Bitcoin hovered near $60,000 Friday, moving up after a dip to the high-$58,000s earlier in the day. The price was showing $60,033, up $891 for the session, with the day’s low at $58,319 and the top at $60,621. But traders focused less on the spot price and more on who was selling.
U.S. spot bitcoin ETFs posted $691.7 million in outflows on June 25, following $469.0 million out the day before, according to Farside Investors. BlackRock’s NYSE:BLK iShares Bitcoin Trust NASDAQ:IBIT and Fidelity Wise Origin Bitcoin Fund BATS:FBTC saw $900.3 million go out over those two days, more than three-fourths of the $1.16 billion lost overall, Farside’s numbers show.
That’s a shift on the tape. Earlier, most ETF selling was from Grayscale. This week, bigger outflows are showing up in the funds that were leading spot demand. IBIT saw $265.7 million out the door on June 25, after $239.3 million the previous day. FBTC also lost $274.5 million after $120.8 million.
For investors, $60,000 is looking less like a neat chart milestone and more like a demand check. With the two main new-money vehicles turning into redemption sources, bitcoin is hunting for cash buyers instead of just short covering.
The derivatives setup put the level in focus again. June 26 quarterly options showed $10.6 billion open interest, about 80% of which was out of the money, according to The Block, which cited Bitfinex and Deribit data. The report said the gamma flip was around $68,000-$70,000, and the $60,000 put wall stood at $450 million.
Jeff Ko, chief analyst at CoinEx, said to The Block that the issue is “whether BTC can reclaim $60,000 quickly.” Andri Fauzan Adziima, research lead at Bitrue Research Institute, said “volatility stays elevated” until there’s a clearer catalyst. Dominick John from Zeus Research said the market is watching “spot ETF flows” and how derivatives are set up. The Block
PCE data didn’t give crypto much to work with. The U.S. Bureau of Economic Analysis said June 25 that the PCE price index picked up to 4.1% in May from 3.8% in April. Core PCE moved up as well, to 3.4% from 3.3%. That left rate pressure hanging over the crypto trade. Bureau of Economic Analysis
Bitcoin’s selloff is weighing on stocks tied to crypto. Strategy Inc NASDAQ:MSTR, calling itself the world’s biggest bitcoin treasury, is taking a hit. CoinDesk said Friday that Strategy holds about 844,000 bitcoin, average price just under $75,600. With bitcoin around $60,000, its paper loss has topped $13 billion. Strategy
Gabe Selby, who leads research at CF Benchmarks, said the $50,000-$60,000 range has attracted buyers. “This is where buyers step in,” Selby told CoinDesk. CoinDesk
Traders will get Friday’s flow print after the U.S. close to see if the move toward $60,000 brought money back to IBIT and FBTC, or just gave holders a new chance to get out.
Related articles: NYSE:BLK
