Cointelegraph·4d ago·negative

Big Tech sell-off and oil surge pressure Bitcoin as $60K support comes into focus

The Nasdaq 100 dropped 7.5% in a week, wiping out $2.7 trillion, as oil above $90 and surging PPI inflation push traders to price in Fed rate hikes. Bitcoin spot ETFs saw $1.9B in June outflows, testing BTC's $60K support.

Nasdaq 100 fell 7.5% in a week, erasing $2.7 trillion in market value -- more than twice Bitcoin's entire market cap
US PPI hit 6.5% year-on-year, the highest since 2022, with 40% odds of a Fed rate hike by September
Bitcoin spot ETFs saw $1.9 billion in net outflows in June, reinforcing bearish sentiment
Bitcoin futures basis rate fell below 4%, indicating low demand for bullish leverage
Strategy (MSTR) paused Bitcoin accumulation to reduce convertible debt, removing a major institutional buyer

marketmacroImpact 7/10

Why our editor rated this negative

Multiple headwinds -- tech sell-off, surging oil, rising inflation, ETF outflows, and Strategy pausing buys -- all point to a challenging environment for Bitcoin and risk assets.

Read the full story at Cointelegraph

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Last updated 13 Jun 2026

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