Bitcoin’s $BTC$62,436.82 fall below $60,000 on June 5, its lowest level since late 2024, reflects a convergence of macroeconomic and structural pressures, according to Deutsche Bank (DB), which said $BTC is increasingly trading like an institutional risk asset rather than a retail-driven speculative bet.
The investment bank said bitcoin’s renewed sell-off was driven by a hawkish shift in Federal Reserve expectations, sustained outflows from U.S. spot bitcoin exchange-traded funds (ETFs), a confidence shock following Strategy’s (MSTR) first $BTC sale since 2022, and a broader rotation of investor capital into artificial intelligence.
“Bitcoin is not disappearing; it is maturing into an institutional asset whose price is set by fund flows, Fed expectations, competing risk themes, and legislative outcomes,” analyst Marion Laboure said in the Tuesday report.
$BTC has struggled in recent weeks, briefly falling below $60,000 on June 5 before rebounding to around $62,000-$63,000. Bitcoin remains more than 50% below its October 2025 record high, pressured by a hawkish shift in Federal Reserve expectations, persistent outflows from spot bitcoin exchange-traded funds and a broader pullback in risk appetite.
