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 trading as an institutional risk asset rather than a retail speculative bet.
The investment bank said the new Bitcoin selloff was driven by a hawkish shift in expectations from the Federal Reserve, sustained outflows from Bitcoin spot exchange-traded funds (ETFs) in the United States, 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 becoming an institutional asset whose price is set by fund flows, Fed expectations, competing risk themes and legislative outcomes,” analyst Marion Laboré said in Tuesday’s report.
BTC has struggled in recent weeks, briefly falling below $60,000 on June 5 before rebounding around $62,000 to $63,000. Bitcoin remains more than 50% below its October 2025 record, pressured by a hawkish shift in expectations from the Federal Reserve, persistent outflows from Bitcoin spot exchange-traded funds and a broader decline in risk appetite.
