B3bit

06/22 12:58Bullish

Bitcoin Price Forecast: BTC struggles as ETF

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Bitcoin Price Forecast: BTC struggles as ETF outflow streak extends to six straight week Bitcoin steadies at $64,500 on Monday after falling nearly 4% in the previous week. Geopolitical uncertainty remains elevated despite progress in the first round of US-Iran talks in Switzerland, keeping investors cautious. Institutional selling persists, as spot Bitcoin ETFs record their sixth consecutive week of withdrawals. Bitcoin (BTC) trades around $64,000 at the time of writing on Monday after declining nearly 4% in the previous week. BTC investors remain cautious despite signs of progress in the first round of US-Iran peace talks in Switzerland. Institutional demand continues to weaken, with spot Exchange Traded Funds (ETFs) recording the sixth consecutive week of outflows, extending a negative streak that began in mid-May. The Crypto King’s recovery isn't likely to be sustained unless institutional demand for BTC increases this week. Geopolitical uncertainty remains elevated as investors assess mixed signals surrounding the ongoing US-Iran peace talks. Iran’s Foreign Minister described the first round of high-level negotiations in Switzerland as showing “progress,” despite talks opening under heightened tensions following US President Donald Trump’s warning that military action could resume if diplomacy fails, as reported by the Guardian. A joint statement from mediators Qatar and Pakistan said the US and Iran agreed to a roadmap towards a final deal within 60 days, offering cautious optimism. However, uncertainty persists as negotiations covering the technical details of the framework agreement between lower-level officials are set to continue throughout the week, with the conflict involving Israel and Iran-backed Hezbollah in Lebanon remaining one of the key issues on the agenda. 

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