Bitcoin Reclaims $60,000 Despite $296 Million in Spot ETF Outflows

JH Kim

Summary

Bitcoin reclaimed the $60,000 level despite spot ETF outflows.
U.S. spot Bitcoin ETFs recorded net outflows of $296 million, but crypto market sentiment improved to the “Fear” stage.
Alongside Bitcoin, Ether (ETH), XRP (XRP) and Solana (SOL) also gained on the first trading day of the third quarter.

Forecast Trend Report by Period

Bitcoin recovered the $60,000 level despite continued outflows from spot exchange-traded funds.

According to Walter Bloomberg, Bitcoin rebounded above $60,000 on July 2 even as U.S. spot Bitcoin ETFs recorded net outflows of $296 million that day.

Crypto market sentiment also improved. CoinMarketCap’s Fear and Greed Index rose from “Extreme Fear” to “Fear.”

Ether, XRP and Solana also gained alongside Bitcoin on the first trading day of the third quarter.

As of 1:20 a.m. on July 3, Bitcoin was trading at $61,500 on Binance’s USDT market, up 2.30% from a day earlier.