Stock Market Volatility Rocks Bitcoin, Threatening $60K Support

Crypto Insight Summary: With $1.9 billion exiting the spot Bitcoin ETFs and tech stocks under pressure, BTC is failing as a hedge and at risk of falling below the $60,000 support.  **Key takeaways:** * Surging oil prices and rising producer inflation have pushed traders to price in a stricter US Fed monetary policy. * Massive spot Bitcoin ETF outflows in June show the cryptocurrency is currently failing to act as a stock market hedge. The Nasdaq 100 Index dropped 7.5% in the seven days leading up to June 10, wiping out $2.7 trillion in market value. Traders now fear that Bitcoin support near $60,000 stands at risk. _Nasdaq 100 futures (left) vs. Source:_[_TradingView_](https://www.tradingview.com/symbols/BTCUSD/) The ongoing war in Iran has driven Brent crude oil prices above $90, prompting investors to fear an economic slowdown and to price in a tighter monetary policy for longer than previously anticipated. The US Labor Department reported Thursday that its producer price index jumped 6.5% from May 2025, the highest level since 2022. Traders now anticipate 40% odds of an interest rate increase by the US Fed by September, up from 5% one month prior, according to the CME [FedWatch Tool](https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html). _Bitcoin 2-month futures annualized basis rate. Crypto Insight Analysis: Direction: Bearish BTC Impact: Major Impact Horizon: Short-term (1-3 days) Reasoning: Massive ETF outflows and stock market volatility signal risk-off sentiment, weakening BTC's safe-haven narrative.