Bitcoin plummeted to $62,000. 161,000 investors were liquidated in 24 hours. Over $3 billion flowed out of ETFs. The fear index hit 28. And right in the middle of this fire, a huge crack formed in the biggest wall of traditional finance.
🔹 The Balance Sheet Suffered Heavy Damage
The price is at $62,200. The daily RSI is at 18.5, challenging the bottom of the oversold region. MAs maintain a death cross on the 4-hour and daily charts. However, bullish divergence has appeared in the 15-minute and 4-hour MACDs. A double bottom formation is forming on the daily chart. Selling pressure is massive, but bottom signals are on the table.
🔹 The Anatomy of the $3 Billion Outflow
Spot Bitcoin ETFs have experienced continuous outflows for 10 days since May 20th. In total, over 40,000 BTC were wiped from the funds. Issuers were forced to continuously sell in the market. The institutional engine that fueled the 2025 rally has reversed, and the biggest obstacle has become the enemy.
🔹 Leverage Completely Eliminated
In the last 24 hours, $672 million worth of BTC positions were forcibly closed. Almost all of it came from long-term trades. Excessively speculative leverage has been eliminated from the market. This may reduce short-term volatility, but it also shows how fragile bullish confidence is.
🔹 Saylor: "This Isn't a Crash, It's Capital Rotation"
MicroStrategy Chairman Michael Saylor sees a different dynamic behind the decline. He noted that $400 billion has flowed into AI infrastructure in the last six months, while only $4 billion has flowed out of ETFs. According to Saylor, this is not a flight from Bitcoin, but a temporary rotation of capital towards AI. The long-term value thesis remains solid.
🔹 The Real Bombshell: Coinbase Launches Bitcoin Mortgage
A historic first occurred as the market descended into chaos. Coinbase and Better Mortgage financed the first Fannie Mae-insured home loan using Bitcoin as collateral. Those wishing to buy a home can pledge their BTC without selling it. The assets will be held in Coinbase's institutional custody wallet. This is not just a pilot, but a structural gateway to the trillion-dollar real estate market.
🔹 Critical Levels
Staying above $61,000 is essential for a short-term recovery. Below this level, it opens the way to $58,500 and $55,000. A weekly close above $66,900 could reverse the trend upwards.
Conclusion
There were record outflows from ETFs, leverage was eliminated, and prices tested lows. But precisely at this moment of fear, the biggest stronghold of traditional finance was entered with Bitcoin mortgages. Saylor points to capital rotation, and on-chain metrics show oversold conditions. History tells us that these kinds of moments are often long-term turning points.
Friends, is Coinbase's launch of Bitcoin-backed mortgages a turning point for the bottom, or will short-term pressure prevail as long as ETF outflows continue?
👉 DYOR ☑️

BTC-1.15%

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