ETF and corporate buying pressure both cooling down, this wave of selling pressure is quite intense, let's see if 60k can hold.

According to the Glassnode Market Update, Bitcoin has recently fallen from about $74,000 to below $60,000. The decline is not only driven by ongoing outflows from spot ETFs, but also by a clear slowdown in buy orders for corporate digital asset treasuries (DAT). Analysts said that although the related companies as a whole still remain net buyers, their daily purchase size has dropped from multiple times exceeding $500 million earlier this spring to an extremely low level this month, weakening marginal market demand. The report said that since mid-May, cumulative net outflows from US spot Bitcoin ETFs have exceeded $5.72 billion; on Wednesday, 11 funds saw a single-day net outflow of $213.85 million. (CoinDesk)