The 60k mark is repeatedly tested, ETF weekly outflows are nearly 1.8 billion USD, and there's no new blood coming in on-chain. This rebound really feels like a technical spasm, not a reversal.

Coin World News, analysts pointed out that after breaking through $60,000, the price of Bitcoin has fallen back again, currently trading at around $59,300, with growing concerns about new buying demand. According to the latest on-chain data from CryptoQuant analyst Sunny Mom, the market lacks the new capital needed to support a sustained breakout. She said that under the current environment, any rebound is more likely to be a short-term technical reaction rather than the start of a trend reversal. Meanwhile, US spot Bitcoin ETFs recorded nearly $1.79 billion in net outflows in the last week of June, the largest weekly outflow this year. Economic conditions have further reduced demand for risk assets, as stronger-than-expected US core PCE inflation data has weakened expectations of a Federal Reserve rate cut.