Bitcoin falls below $104K amid heavy ETF outflows.
\nKey resistance at $106K\u2013$107K amid rebound attempts.
\nWhale selling is on the rise as retail buys surge.<\/p>\n
Bitcoin (BTC)<\/a> has started June on the back foot, dipping below $104,000 to a low of $103,833.57 on June 2 as investors react to a fresh wave of ETF outflows and technical uncertainty.<\/p>\n Despite closing May with its highest monthly close ever near $105,700, the market mood has quickly shifted, driven by signs of distribution from whales and institutional sellers.<\/p>\n The six-week streak of inflows into US spot Bitcoin ETFs came to an abrupt end on May 30, when funds collectively recorded a staggering $616.22 million in outflows according to Coinglass data<\/a>.<\/p>\n\n This reversal marks a sharp deviation from previous weeks, where ETF flows had reinforced the bullish narrative and contributed to Bitcoin\u2019s 11% monthly gain.<\/p>\n BlackRock\u2019s IBIT, the largest fund in the cohort, leads the exit with $430.82 million in withdrawals, even though it still maintains over $69 billion in assets under management.<\/p>\n Fidelity\u2019s FBTC and ARK 21Shares\u2019 ARKB follow suit with $113.71 million and $120.14 million in outflows, respectively, underscoring the broad-based nature of the sell-off.<\/p>\n Although the total cumulative inflows across all ETFs remain positive at $44.37 billion, the sudden withdrawal suggests that investors are now acting cautiously amid growing macroeconomic and technical risks.<\/p>\n On the price charts, Bitcoin\u2019s recent pullback from $109,000 to $103,833 has brought it below the 0.786 Fibonacci retracement of the rally to its all-time high of $112,000.<\/p>\n That dip reflected heavy profit-taking into the end of May, exacerbated by the rising influence of bearish technical patterns such as the death cross on the 4-hour chart.<\/p>\n During Monday\u2019s European session, BTC briefly rebounded to $105,500 but quickly stalled near $105,800 \u2014 a zone that combines the 0.618 Fibonacci level with the 100 EMA, forming a critical confluence of resistance.<\/p>\n While the 20 EMA has been reclaimed, the price continues to struggle beneath the 50 EMA at $106,000, reinforcing the view that bulls face an uphill task in regaining upward momentum.<\/p>\n If Bitcoin fails to break through the resistance between $106,000 and $107,000, the downside pressure could intensify, possibly dragging the asset back to the recent low near $103,200.<\/p>\n Adding to the volatility is James Wynn, the controversial high-leverage trader who once again opened a $100 million BTC long at 40X leverage on Hyperliquid, with a liquidation price precariously close at $101,999.<\/p>\n Just these for now <\/p>\n Hoping BTC pulls lower but i don\u2019t see it pic.twitter.com\/wd9751v27t<\/a><\/p>\n \u2014 James Wynn (@JamesWynnReal) May 30, 2025<\/a><\/p>\n\n Wynn\u2019s repeated attempts to go long on BTC have not only ended in substantial floating losses but have also fueled wider speculation-driven activity on the Hyperliquid platform.<\/p>\n After another failed attempt by the market to liquidate him, Wynn has announced that he has decided to give perp trading a break, further amplifying concerns of exaggerated leverage in the market.<\/p>\n I’ve decided to give perp trading a break.<\/p>\n Thank you @HyperliquidX<\/a> for your hospitality. Your service, impeccable. Your platform exquisite.<\/p>\n Its been a fun ride. Approx $4m into $100m and then back down to a total account loss of $17,500,000.<\/p>\n The time has come for me to\u2026<\/p>\n \u2014 James Wynn (@JamesWynnReal) June 2, 2025<\/a><\/p>\n\n Meanwhile, on-chain metrics show a divergence in behaviour between whales and retail traders, with large holders reducing exposure steadily since BTC crossed $81,000.<\/p>\n Retail participants, by contrast, are showing signs of buying the top, a dynamic that historically aligns with periods of short-term market corrections.<\/p>\n Santiment flagged increased whale activity around the May 22 peak, noting that similar past patterns typically signal local tops rather than sustainable breakouts.<\/p>\n Even though Bitcoin remains up 11% over the past month, relative strength index (RSI) signals have turned bearish, flashing clear divergence as price attempts to recover above key resistance zones.<\/p>\n At the same time, broader macro conditions continue to cast a shadow, with traders watching closely for signals from the Federal Reserve amid slowing job growth and cooling inflation.<\/p>\n The falling US Dollar Index could provide a short-term tailwind for Bitcoin, but analysts remain divided on whether current levels represent a springboard for a fresh rally or a prelude to further losses.<\/p>\n Data from Glassnode\u2019s MVRV ratio shows BTC is trading between critical bands that historically precede local tops, with the +1\u03c3 level near $119,400 acting as a psychological ceiling for many profit-takers.<\/p>\n While some traders anticipate a bounce from the $100K support to as high as $113K, the risk of a deeper correction continues to dominate sentiment across both spot and derivative markets.<\/p>\n As June unfolds, all eyes will remain fixed on ETF flows, macro indicators, and whether Bitcoin can decisively reclaim the $106,000\u2013$107,000 band to avoid slipping further into bearish territory.<\/p>\n The post Bitcoin drops below $104K as ETF outflows trigger decline fears<\/a> appeared first on CoinJournal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin falls below $104K amid heavy ETF outflows. Key resistance at $106K\u2013$107K amid rebound attempts. Whale selling is on the rise as retail buys surge. Bitcoin (BTC) has started June on the back foot, dipping below $104,000 to a low of $103,833.57 on June 2 as investors react to a fresh wave of ETF outflows […]<\/p>\n","protected":false},"author":0,"featured_media":3644,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-3643","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/3643","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=3643"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/3643\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/3644"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=3643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=3643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=3643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bitcoin ETF outflows outweigh inflows<\/h2>\n
Bitcoin price pullback<\/h2>\n
On-chain metrics are sending diverging signals<\/h2>\n