Bitcoin continues its bearish trajectory into June 2026, falling to approximately $73,000 after a weekly decline of over 4%. The drop follows disappointing inflation data, reduced expectations for Federal Reserve interest rate cuts, and geopolitical tensions. Significant ETF outflows from entities like BlackRock have also contributed to the downward pressure, though upcoming regulatory legislation may potentially improve sentiment.
Bitcoin has fallen to the $73,000 price level after declining by more than 4% in the last week, according to CoinGecko data. The asset’s bearish path extends into June 2026 despite briefly reclaiming $82,000 in May.
High inflation figures in May greatly reduced the chances of an interest rate cut by the Federal Reserve. The new Federal Reserve Chair, Kevin Warsh, was expected to accommodate demands for lower rates but the data may keep rates higher for longer.
Bitcoin is falling prey to macroeconomic worries and global geopolitical tensions. A potential re-escalation of the US-Iran conflict could put additional pressure on global crude oil prices, which may further increase inflation.
Large ETF outflows may have also pulled Bitcoin down. BlackRock sold over $1.5 billion worth of Bitcoin last month, a move that may have spooked some retail investors. Most of the sold BTC was absorbed by the market.
The market is quite bearish right now, hence Bitcoin will likely continue on its bearish path for the coming weeks. The asset has been on a sideways trajectory over the last few days and may remain around current levels.
The US may pass the CLARITY Act in the coming weeks, which could elevate investor sentiments. The legislation aims to bring more regulatory clarity for the crypto sector, potentially leading to more investments.
