U.S. spot Bitcoin ETFs recorded $469 million in net outflows on June 24, the largest single-day redemption of the month, according to data compiled by Farside Investors, as BTC fell to its lowest level since September 2024.
BlackRock‘s IBIT led withdrawals with $239 million exiting the fund in a single session. BTC printed an intraday low of $59,103 during the day — a level unseen in 21 months — triggering $994 million in total market liquidations, with $780 million of that coming from long positions, per CoinGlass data. The token has since recovered to approximately $61,500, but the weekly balance remains deeply negative.
The selling came on an unusual macro day. Micron Technology reported blowout fiscal third-quarter results after Wednesday’s close — revenue of $41.5 billion versus a $35.8 billion consensus estimate, with Q4 guidance of $50 billion well ahead of expectations. AI-linked equities surged. BTC did not follow. The divergence reinforces a pattern that has defined much of 2026: capital rotating toward AI-linked names while crypto struggles to hold key support levels. Precious metals also continued lower alongside BTC, with gold trading near $4,000 per ounce, down 6% year-to-date and well off its January record.
Underlying demand metrics remain weak. The Coinbase Premium Index — which measures pricing on Coinbase relative to Binance as a proxy for U.S.-based spot demand — has stayed negative for 46 consecutive days, the longest uninterrupted stretch on record. Total 24-hour trading volume spiked to $98 billion from $76 billion the prior session, largely driven by forced liquidation activity rather than organic accumulation.
The Fear & Greed Index fell to 12 out of 100, approaching all-time lows. The June 24 outflow also partly unwinds a brief recovery period: U.S. spot BTC ETFs had snapped a record 13-day, $4.4 billion outflow streak in early June before stabilizing — a reprieve that now looks short-lived.
Technically, $59,000–$60,000 has absorbed multiple intraday tests and holds as near-term support. A daily close below that level would likely accelerate selling toward $55,000. Resistance sits at $63,000–$64,000, where the 200-day moving average is clustered. Upcoming U.S. PCE inflation data is the next material catalyst — a softer reading could help reverse ETF outflows; a hotter print would reinforce expectations for further Fed rate hikes.
