Bitcoin has tumbled to around $62,000, a sharp retreat from the peak above $74,000 seen just last week, representing a decline of nearly 16%. The slide is largely attributed to a wave of profit-taking in AI-concept assets and a broader shift toward risk-averse sentiment across global markets. The close correlation between AI-focused equities and digital assets has amplified the sell-off, as investors rush to lock in gains after months of robust rallies in both sectors.
Technically, the $60,000 mark has become the crucial line in the sand. Should this level give way, the next significant support zone is projected near $55,000. On the institutional front, U.S. spot Bitcoin exchange-traded funds have notched net outflows for 15 consecutive trading days, with the cumulative figure surpassing $4.7 billion. This persistent outflow underscores a meaningful retreat of institutional capital from crypto, reflecting caution amid the current market environment.
Further denting sentiment, Strategy — the company formerly known as MicroStrategy — disclosed its first bitcoin sale since 2022 this week. Long recognized as one of the most steadfast institutional accumulators, this unexpected move has severely undercut market expectations of sustained institutional buying. The combination of technical risks and weakening demand paints a challenging near-term picture for Bitcoin, with traders watching closely whether the $60,000 floor can hold.