Bitcoins falling 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 as an institutional risk asset rather than a retail-driven speculative bet.
The investment bank said bitcoin’s renewed selloff 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 going away; it is maturing into an institutional asset whose price is set by fund flows, Fed expectations, competing risk themes and regulatory outcomes,” analyst Marion Laboure said in Tuesday’s report.
BTC has struggled in recent weeks, briefly dipping 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, continued outflows from spot bitcoin exchange-traded funds and a broader retreat in risk appetite.
