$BTC Price Action: Trading around $61,200, down ~2.5% in the last 24 hours amid broader market pullback.

· Market Context: Selling pressure linked to Mt. Gox creditor repayments starting and recent German government BTC transfers to exchanges.

· Institutional Flow: U.S. Spot Bitcoin ETFs saw net outflows of $147 million yesterday (July 8th), led by Grayscale's GBTC.

· Key Support: Market watching the $60,000 psychological level; a sustained break below could signal deeper correction.

· On-Chain Data: Exchange balances rising, indicating increased selling pressure from holders.

Bottom Line: Bearish sentiment dominates short-term due to macro overhang (Mt. Gox, government sales). Focus is on whether key support levels hold.

BTC

95,402.74

-0.30%