Bitcoin Struggles to Hold $60,000 Amid 'Fear' Psychology as Altcoins Waver

Bitcoin (BTC) rose slightly to $68,980, up 0.44% from the previous day, but upward momentum remains stagnant due to ongoing large-scale spot ETF outflows, U.S.-Iran geopolitical risks, and the Federal Reserve's hawkish stance. While Bitcoin's market share stayed at 58.05%, altcoins showed mixed performance: Ethereum (ETH) climbed 0.16% to $1,597, XRP rose 0.92% to $1.0671, while BNB fell 1.74% to $565 and SOL dropped 1.47% to $71.90. Spot Bitcoin ETFs recorded a record $3.4 billion outflow in early June, with May's $2.3 billion outflow marking the largest monthly withdrawal since 2026. The Fed maintained its 3.50-3.75% interest rate range, with the first meeting under new chair Kevin Warsh and a fourth consecutive rate freeze. Geopolitical uncertainty persisted after the U.S.-Iran ceasefire wavered in May, leading to a 9-day ETF outflow streak totaling $2.8 billion. While the U.S. CLARITY Act provided institutional investors with a legal framework, it failed to spark short-term price recovery. ETF outflow stabilization and Fed policy shifts remain critical for Bitcoin's $60,000 support line defense.