Bitcoin clings to key support level as weekly US spot ETF outflows hit $1.8B and Fed rate hike bets mount: analysts

Bitcoin is hovering around the $60,000 mark as investors pull $1.8 billion out of U.S. spot ETFs this week, likely due to concerns about an impending Fed rate hike and a broader AI-driven sell-off. Analysts are keeping a close watch on this key support level for Bitcoin, which if breached, could signal further declines. The situation underscores the growing pressure on crypto markets as traditional financial factors increasingly influence investor sentiment.