The price of bitcoin continued its downward trend Monday, trading slightly below $63,000 as large investors pulled funds out of the cryptocurrency market to target surging artificial intelligence stocks and upcoming tech listings.
Bitcoin traded at $62,959 on Monday afternoon, extending a steep correction after losing roughly 15% of its value during the first week of June. The leading digital asset remains under steady pressure following a wave of institutional selling that has driven billions of dollars out of U.S. spot exchange-traded funds (ETFs) over the past month.
Market data shows that investors withdrew more than $4 billion from U.S. spot bitcoin ETFs since mid-May, with approximately $1.4 billion leaving those funds during the first week of June alone. Analysts note that capital is rotating out of digital assets and flowing directly into semiconductor and technology funds.
“Bitcoin’s decline during the first week of June presents an unusual picture,” said Vikram Subburaj, CEO of Giottus. “The available on-chain data does not show the capitulation that has accompanied previous major market breakdowns. The clearest sign of stress comes from institutional flows.”
The current price sits nearly 50% below the all-time high of $126,199 that bitcoin reached in October 2025. Broad market sentiment has turned cautious due to geopolitical tensions in the Middle East, a series of anticipated tech initial public offerings (IPOs) like SpaceX, and profit-taking by major holders.
Corporate accumulation has continued at a slower pace despite the broader market decline. In a regulatory filing, corporate holder Strategy Inc. reported that it acquired 1,550 bitcoin between June 1 and June 7 for $101.3 million, at an average price of $65,332 per coin. The purchases bring the company’s total holdings to 845,256 bitcoin.
Market participants are currently shifting their focus toward macroeconomic data scheduled for later in the month, including the upcoming June 10 U.S. inflation report and the mid-June Federal Reserve policy meeting, which are expected to dictate broader market liquidity.
READ: $400 Million Payday: DOJ Opens Floodgates To Repay Victims Of Massive Crypto Pyramid Scheme
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