Bitcoin tests $59,000 support as institutional demand weakens

Persistent outflows from spot exchange-traded funds are weighing on the leading cryptocurrency, which has dipped below the $60,000 threshold for the first time since early June.

By Handelsavisen Newsroom · Automated 2026-06-25 15:01 UTC · 1 min read

Bitcoin is trading near the $60,000 mark, testing the $59,000 floor established on June 5 as institutional demand weakens.

The cryptocurrency is facing renewed headwinds from persistent outflows in spot Bitcoin exchange-traded funds, which have eroded the buying pressure that previously supported higher valuations.

The weakening institutional interest comes after a period of consolidation, where Bitcoin struggled to break above the $62,000 resistance level.

The asset briefly dipped to $59,023 in New York trading on Wednesday, marking the first time the leading cryptocurrency has breached this psychological support level since the start of the month.

This move signals a shift in market sentiment, with investors growing cautious amid broader macroeconomic uncertainty and a lack of fresh catalysts to drive prices higher.

The weakening institutional interest comes after a period of consolidation, where Bitcoin struggled to break above the $62,000 resistance level.

Traders are now closely watching the $59,000 level as a critical support zone; a sustained break below could trigger further selling pressure and test lower support levels near $55,000.