Bitcoin Holds $60K as Selling Slows, Bottom Uncertain

Bitcoin is trading around $60,300 at an important inflection point, with retail investors selling while larger holders remain largely flat. The Crypto Fear & Greed Index sits at 36, and US spot Bitcoin ETFs saw $4.4 billion withdrawn in June. Some strategic buyers are still adding to positions, but the pace and size of purchases have slowed.

Leverage is being reduced gradually: aggregate open interest in Bitcoin futures stands at $19.92 billion, down from $20.1 billion two weeks ago. Borrowing costs for longs have fallen from 0.25% to 0.12%, suggesting forced selling has eased, yet traders are still paying to hold long exposure.

Trading volume and changes in open interest remain muted, pointing to an indecisive market where retail sellers may be done but few are willing to buy in size. MicroStrategy bought 3,600 Bitcoin in June for $236 million, while many institutions are holding rather than aggressively increasing positions.

United States

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