Is the Bitcoin Rally Losing Steam?
Bitcoin price stalls—that phrase echoes across crypto headlines as spot Bitcoin ETFs record another week of outflows. After months of strong institutional inflows and soaring prices, Bitcoin finds itself at a pivotal crossroads. Most importantly, this development signals not just investor caution, but a potential turning point for the world’s leading cryptocurrency.
Spot Bitcoin ETFs: From Record Inflows to Persistent Outflows
Spot Bitcoin ETFs played a crucial role in Bitcoin’s rally earlier this year, attracting billions in institutional capital. However, the tide has shifted. Over the last two weeks, US-listed spot Bitcoin ETFs collectively saw net outflows, with one recent episode witnessing a loss of 6,700 BTC—the largest single outflow since these funds launched. Because of these outflows, Bitcoin fell sharply, at one point dipping below the $100,000 threshold before stabilizing near that mark. Institutional profit-taking, a cautious Federal Reserve stance, and seasonal market adjustments are among the factors amplifying volatility and weighing on sentiment.[5]
What’s Driving the Outflows?
Several factors contribute to these recent ETF redemptions. First, cautious signals from the Federal Reserve have led some investors to rebalance portfolios, anticipating macroeconomic shifts. Besides that, as Bitcoin reached new highs just over $108,000 before the recent sell-off, many large investors locked in profits, recognizing the potential for short-term pullbacks. Therefore, the outflow in spot ETFs is not just a random blip; it reflects evolving market sentiment and a shifting risk appetite, especially among institutions.[5]
Price Action and Key Levels: Consolidation or Warning Sign?
Despite the latest turbulence, Bitcoin’s long-term uptrend remains technically intact. For June 2025, leading analysts still predict a trading range between $100,000 and $120,000. The $104,000–$105,000 band serves as a crucial support; should this level break, Bitcoin could briefly test $100,800 before buyers step in. A sustained move above $112,000 would renew bullish momentum, possibly catalyzing a run toward $120,000.[4]
Moreover, as long as Bitcoin stays above its 100-day EMA—currently near $96,559—major price breakdowns remain unlikely. Therefore, while the stalling price and ETF outflows are significant, they may ultimately serve as a healthy consolidation phase, washing out speculative excess while setting the stage for the next move.
Expert Opinions: Is the Bull Market Over?
Market analysts remain divided. Some experts caution that the ETF outflows could weigh further on sentiment, introducing short-term downside risk. Yet, others point to core fundamentals—such as limited new supply and persistent global liquidity expansion—as reasons to stay bullish. Notably, Tom Lee of Fundstrat maintains a $150,000–$200,000 price target for Bitcoin by the end of 2025, provided macro conditions remain supportive.[1]
Bitwise analysts echo this sentiment, citing that while 95% of Bitcoin has already been mined, a similar proportion of the global population has yet to invest, leaving enormous room for new adoption and future price appreciation.[1]
Looking Ahead: What Could Reverse the Trend?
For investors, the next Federal Reserve policy update and upcoming job reports hold special significance. Should the Fed pivot toward rate cuts—as some strategists expect—global liquidity could rise, boosting not just equities but also risk assets like Bitcoin. Therefore, while the spot ETF bleeding sparks caution, any dovish turn from policymakers or renewed institutional inflows could quickly restore upward momentum.
In conclusion, while the Bitcoin price stalls as spot ETFs bleed for a second consecutive week, the broader bull case remains alive. Short-term volatility, driven by macro and ETF flows, may continue. Yet, the foundation for future upside persists, with experts watching key price levels and macro shifts for the next big move.
References:
- Finance Magnates – How High Can Bitcoin Go? Experts’ BTC Price Predictions
- Mitrade – Spot Bitcoin ETFs Bleed: 6,700 BTC Exit Amidst Largest Outflow
- CoinDCX – Bitcoin Price Weekly Prediction
