Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
IPO Access
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Promotions
AI
Gate AI
Your all-in-one conversational AI partner
Gate AI Bot
Use Gate AI directly in your social App
GateClaw
Gate Blue Lobster, ready to go
Gate for AI Agent
AI infrastructure, Gate MCP, Skills, and CLI
Gate Skills Hub
10K+ Skills
From office tasks to trading, the all-in-one skill hub makes AI even more useful.
GateRouter
Smartly choose from 40+ AI models, with 0% extra fees
Bitcoin falls below $61k amid geopolitical tensions and ETF outflows
Key takeaways
BTC Extends Losses Ahead of Key US Inflation Data Bitcoin (BTC) continued its decline on Wednesday, trading below $61,500 as renewed geopolitical tensions in the Middle East and persistent institutional selling kept risk sentiment subdued.
Investors are also preparing for the release of the US Consumer Price Index (CPI) data for May, which could significantly influence expectations for Federal Reserve policy.
Renewed Middle East tensions keep risk assets under pressure
Geopolitical concerns intensified after the United States conducted what it described as self-defense strikes against Iran following the downing of a US Apache helicopter in the Strait of Hormuz.
Iran’s Islamic Revolutionary Guard Corps (IRGC) responded by saying it had targeted an airbase in Jordan hosting US forces, as well as locations in Kuwait and Bahrain, and warned of further escalation if US actions continue.
Market participants are closely watching the upcoming US inflation data. Economists expect the May CPI report to show another increase in consumer prices, partly due to elevated energy costs linked to the Middle East crisis.
If inflation comes in hotter than expected, it could strengthen expectations that the Federal Reserve will maintain a hawkish stance and keep interest rates elevated for longer.
Higher borrowing costs tend to reduce liquidity and make yield-bearing assets more attractive relative to risk assets, potentially adding further pressure on Bitcoin.
Institutional demand remains weak. According to CoinGlass, US-listed spot Bitcoin ETFs recorded net outflows of $77.44 million on Tuesday, following $91.37 million in outflows earlier in the week.
These withdrawals extend a broader trend of persistent weekly outflows from spot Bitcoin ETFs, suggesting that large investors remain cautious amid macroeconomic uncertainty and geopolitical risks.
Bitcoin technical outlook: Bears retain control
The BTC/USD 4-hour chart is bearish and efficient as Bitcoin maintains a clearly bearish near-term structure.
Price remains well below all three major moving averages, while a former upward trendline near $73,004 has turned into resistance, reinforcing the view that the medium-term uptrend has been broken.
The RSI near 38 indicates oversold conditions that could slow the decline, but it does not yet signal a confirmed reversal.
The MACD remains in negative territory, although downside momentum appears to be moderating, increasing the risk of consolidation rather than an immediate recovery.
If the bulls regain control, immediate resistance is seen at the $64,004 level, with the $72,037 zone also posing as a strong supply zone.
No significant support levels are identified immediately below the current price in this setup, leaving BTC vulnerable to further downside if selling pressure persists.
Share this article
Categories
Tags