Why Bitcoin price could fall below $62,000 despite oversold conditions

• Bitcoin ETF outflows remain negative for 11 straight days, pressuring BTC.
• $749 million in liquidations have accelerated the Bitcoin price drop.
• RSI below 18 shows oversold conditions, but trend stays bearish.

Bitcoin (BTC) has been under sustained pressure, trading around the $63,548 level after a sharp multi-week decline that has erased a large portion of its recent recovery.

Notably, the BTC price decline reflects a combination of institutional selling, forced liquidations, and weakening market structure that continues to dominate short-term price action.

Even though technical indicators now show deeply oversold conditions, the broader flow of capital suggests that downside risk remains active.

The current setup places Bitcoin in a zone where short-term relief rallies are possible, but sustained recovery has yet to form.

Bitcoin ETF outflows weigh heavily on the BTC price

One of the most consistent pressures on Bitcoin has been the ongoing withdrawal of capital from US spot Bitcoin exchange-traded funds.

Data shows a stretch of 11 consecutive days of net outflows, including a single-day redemption of roughly $519 million on June 2.

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