Bitcoin ETFs post June's biggest daily outflows as BTC falls below $60K

US Bitcoin ETFs experienced outflows totaling $696.3 million on June 24, marking the largest single-day outflow for the month. This significant withdrawal occurred as the price of Bitcoin fell below the $60,000 threshold. The cumulative outflows for Bitcoin ETFs in June have now reached $696.3 million, contributing to a year-to-date net outflow of $4.6 billion. This trend contrasts with the substantial inflows observed in the first quarter of 2024, when Bitcoin ETFs attracted over $12 billion. The recent outflows suggest a shift in investor sentiment, potentially driven by macroeconomic factors or profit-taking following Bitcoin's earlier price surges. The price of Bitcoin has seen a notable decline, trading at approximately $59,500 at the time of reporting, down from its recent highs above $70,000.