Bitcoin remained above the $60,000 threshold on Sunday, trading at $60,273.4, a 0.25% decline from the previous session, after briefly dipping below the key level earlier in the weekend. This price action places Bitcoin on track for a rare second consecutive quarterly loss, marking only the third instance in which the cryptocurrency has begun a calendar year with back‑to‑back quarterly declines.
U.S. spot Bitcoin exchange‑traded funds (ETFs) recorded a seventh consecutive day of net outflows, with approximately $445 million exiting Bitcoin funds on Friday. Monthly outflows have accumulated to roughly $4.06 billion, reducing total ETF assets to about $72.8 billion.
On‑chain metrics indicate that large investors, often termed “whales,” increased buying activity after the brief dip, with transactions exceeding $100,000 and $1 million surging, suggesting accumulation amid the sell‑off. Simultaneously, long‑term holders have started to realize losses after weeks of price declines, a development that could eventually curb further selling pressure as profitable supply diminishes.
Macro‑economic conditions remain challenging. Market participants are shifting expectations toward additional Federal Reserve rate hikes under Chair Kevin Warsh, a stance that supports a stronger U.S. dollar and exerts downward pressure on risk‑on assets, including cryptocurrencies. The stronger dollar has also weighed on precious metals, with gold and silver retreating despite earlier gains of 1.53% and 2.23% respectively.
Grayscale Research noted that Bitcoin’s next major move may hinge on several upcoming catalysts: future Federal Reserve decisions, progress on the CLARITY Act in the U.S. Senate, and developments concerning Grayscale’s balance sheet following concerns over its leveraged Bitcoin acquisition model. Nonetheless, Grayscale emphasized that long‑term fundamentals remain sound, citing continued institutional adoption, expanding stablecoin usage, and growing tokenization of real‑world assets as structural drivers for the digital‑asset industry.
Investors are advised to monitor whether ETF flows stabilize in the coming weeks, as a resurgence in institutional demand could influence Bitcoin’s ability to build on its rebound above $60,000.