**Bitcoin Dips Below \$104K Amid ETF Outflows and Market Volatility**

Bitcoin (BTC) experienced a slight pullback today, trading around \$103,000 after a 1.58% drop over the past 24 hours. The leading cryptocurrency saw highs of \$105,888 and lows near \$100,781, reflecting increased market volatility.

One of the key drivers behind the decline is a significant outflow from Bitcoin ETFs, which totaled \$278.4 million on June 5. Major funds like ARKB and FBTC reported large withdrawals, indicating reduced institutional interest and contributing to downward pressure on the price.

Technical analysis paints a bearish picture in the short term. Bitcoin is testing the lower Bollinger Band at \$101,934, and the Relative Strength Index (RSI) sits at 25.23 — signaling oversold conditions.

Despite the current dip, market analysts remain optimistic. Some forecasts suggest BTC could climb to \$120,000–\$125,000 by the end of June, and possibly reach \$150,000–\$200,000 by year-end, driven by potential Federal Reserve rate cuts and growing retail interest.

Meanwhile, mining companies like HIVE Digital Technologies are ramping up capacity. HIVE reported a 58% boost in hashrate to 10.4 EH/s in May and aims to hit 25 EH/s by year-end, lowering production costs to below $50,000 per Bitcoin.

While short-term turbulence continues, long-term sentiment in the crypto space remains bullish.

$BTC