Bitcoin Falls Below 200-Week Average After ETF Redemptions

Bitcoin traded at $60,238 on June 28, below the 200-week weighted moving average tracked at $62,383 by Newhedge. The price breach followed three consecutive days of ETF redemptions that together removed roughly $1.61 billion from products that track the cryptocurrency.

ETF flow records show net outflows of $469 million on June 24, $691 million on June 25 and $444 million on June 26. Those redemptions coincided with increased selling in spot markets and placed the price about $2,555 beneath the 200-week weighted reference.

At the June 28 price, Bitcoin was down 6.1% over the previous seven days and about 18% over the prior 30 days. Traders monitor the 200-week weighted moving average as a slow-moving reference that reflects multiple years of price data.

Barchart’s technical screen lists the 200-day simple moving average near $84,165, a level well above current spot. Market participants note the distance between the 200-week reference and the 200-day average when tracking longer-term trend levels.

Federal Reserve materials from June 17 show the target federal funds rate remained at 3.50% to 3.75%, with a projected median funds rate of 3.8% for 2026. The May employment report recorded payroll gains of 172,000 and an unemployment rate of 4.3%.

Observers are watching price action and ETF flows around the low-$62,000 area to see whether the spot price returns above the 200-week weighted average or spends extended time below it. The balance of flows and the time spent near that reference will be tracked in coming sessions.