Bitcoin Tests $60K After $4.4B in Monthly ETF Outflows, Whale Deposits Surge

According to Bloomberg analyst Eric Balchunas, Bitcoin spot ETFs have posted approximately $4.4 billion in outflows over the past month as BTC fell below $62,000 on June 4, extending its monthly decline to roughly 14%. Bitcoin traded near $62,116 after losing about 3% in 24 hours, approaching the psychological $60,000 support level.

Whale activity on Binance increased during the selloff, with entities moving more than 100 BTC depositing 8,200 BTC on June 2 and 6,400 BTC on June 4, according to Cryptoquant. The monthly average of whale inflows to Binance has doubled to more than 2,800 BTC since mid-April, with large exchange deposits often signaling holders preparing to manage risk or potentially sell.