{"id":2433,"date":"2025-06-08T12:27:06","date_gmt":"2025-06-08T12:27:06","guid":{"rendered":"https:\/\/bitunikey.com\/news\/bitcoin-price-stalls-as-spot-etfs-bleed-for-second-week\/"},"modified":"2025-06-08T12:27:07","modified_gmt":"2025-06-08T12:27:07","slug":"bitcoin-price-stalls-as-spot-etfs-bleed-for-second-week","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/bitcoin-price-stalls-as-spot-etfs-bleed-for-second-week\/","title":{"rendered":"Bitcoin price stalls as spot ETFs bleed for second week"},"content":{"rendered":"
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Bitcoin price has stalled at $105,000 amid increasing spot ETF outflows and as sentiment among investors turned to neutral.\u00a0<\/p>\n

Bitcoin (BTC) was trading at $105,550 on Sunday, June 8, up by 5% from its lowest point last week. It remains 5.75% below its highest point this year.<\/p>\n

Bitcoin has wavered recently because of investor profit-taking. In May, its price surged to a record high of $111,900, a 50% surge from the lowest level in April.<\/p>\n

BTC also wavered as data pointed to outflows from exchange-traded funds. SoSoValue data<\/a> shows that these ETFs shed $128 million last week after shedding $157 million a week earlier. It was the first back-to-back weekly outflows since April.<\/p>\n

Further data shows that sentiment among crypto investors has turned neutral this month. The closely-watched fear and greed index has dropped to the neutral point of 56.\u00a0<\/p>\n

Bitcoin has also wavered after reports emerged that China was considering selling its seized coins. Data shows<\/a> that it holds 190,000 coins worth over $20 billion.<\/p>\n

<\/p>\n

Still, Bitcoin has two key catalysts that may push it higher in the coming weeks. First, the chart below shows that the supply of Bitcoin on exchanges has been in a freefall this month and currently stands at 1.18 million, down from 1.35 million when the month started. It has fallen from over 3.5 million in 2020.<\/p>\n

<\/source><\/p>\n<\/picture>
Bitcoin supply on exchanges | Source: Santiment<\/a><\/figcaption><\/figure>\n

Second, more companies are intensifying their Bitcoin purchases. Strategy is raising over $2 billion more to buy Bitcoin, while Trump Media has filed to raise up to $12 billion for purchases. Other firms like MetaPlanet and The Blockchain Group are intensifying their purchases.<\/p>\n

Bitcoin price technical analysis<\/h2>\n
<\/source>
\n\"Bitcoin\n<\/picture>
BTC price chart | Source: crypto.news<\/figcaption><\/figure>\n

The other Bitcoin catalyst is its solid technicals. The daily chart shows that it has slowly formed a cup-and-handle pattern and is completing the handle section.\u00a0<\/p>\n

Bitcoin has also remained above the 50-day and 200-day moving averages, which provide substantial support. It has also remained above the major S\/R pivot point of the Murrey Math Lines tool.\u00a0<\/p>\n

Therefore, the coin will likely bounce back in the coming weeks. The initial target is the cup\u2019s upper side at $109,477. After moving above the all-time high of $111,900, it may surge to $150,000.<\/p>\n

<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin price has stalled at $105,000 amid increasing spot ETF outflows and as sentiment among investors turned to neutral.\u00a0 Bitcoin (BTC) was trading at $105,550 on Sunday, June 8, up…<\/p>\n","protected":false},"author":1,"featured_media":345,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2433","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/2433","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=2433"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/2433\/revisions"}],"predecessor-version":[{"id":2434,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/2433\/revisions\/2434"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/345"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=2433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=2433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=2433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}