Bitcoin 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 being traded as an institutional risk asset rather than a retail-driven speculative bet.
The investment bank said the renewed bitcoin sell-off was driven by an aggressive 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 toward artificial intelligence.
“Bitcoin is not disappearing; it is maturing into an institutional asset whose price is set by fund flows, Federal Reserve expectations, competing risk issues and legislative outcomes,” analyst Marion Labore said in Tuesday’s report.
BTC has struggled in recent weeks, briefly falling below $60,000 on June 5 before recovering to around $62,000-$63,000. Bitcoin remains more than 50% below its October 2025 all-time high, pressured by an aggressive shift in Federal Reserve expectations, persistent outflows from spot bitcoin exchange-traded funds, and a broader pullback in risk appetite.
