Bitcoin Under Pressure, ETF Outflows and Iran Risks Weigh
Bitcoin weakened on Monday (June 1st) and remained near a two-month low, as risk appetite waned after the latest US-Iran military action dampened hopes for a quick deal. In the European session, BTC traded around US$71,041, down around 3.4% from its previous close.
Pressure also came from institutional flows. In the past three weeks, the market reportedly saw a large wave of selling from US spot Bitcoin ETFs, weakening risk appetite in crypto assets. Under these conditions, crypto tends to follow a "risk-off" pattern: when investors choose assets perceived as safer, demand for speculative assets dwindles.
From a macro perspective, concerns about prolonged high interest rates remain a burden. Consistently hot US inflation data maintains expectations that the Fed will not rush to ease policy, limiting the recovery potential for crypto as opportunity costs increase when yields are attractive.
The weakness extended to altcoins. Ethereum fell to around US$1,966.84 (around -2.1%). Solana is at US$79.52 (around -2.8%) and Cardano is at US$0.2268 (around -2.9%), while BNB has fallen further to US$677.69 (around -5.9%).
For tokens not accurately read in the same price feed, crypto market benchmarks show XRP around US$1.28 and Dogecoin around US$0.10, with moderate daily weakness.
Going forward, the crypto market will be highly sensitive to two factors: whether geopolitical tensions ease, allowing risk appetite to recover, and whether ETF flows stabilize. Without improvements in these two factors, the rally is likely to be fragile, and price movements will remain susceptible to macro sentiment.
Source: Newsmaker.id
