Bitcoin's price has rebounded towards $62,000 after experiencing selling pressure due to institutional outflows and macroeconomic concerns. The cryptocurrency had dropped below $60,000 earlier this month.
The spot Bitcoin ETFs saw net outflows of $459 million, indicating a reduction in investor exposure amid volatility and rising U.S. interest rates.
Technical indicators suggest that Bitcoin is struggling to break through key resistance between $62,800 and $65,000, with bearish momentum still intact.