Bitcoin price is trading at $64,890, down 2.62% over the past 24 hours, as selling pressure continues across the market. The decline comes even after BlackRock launched a new Bitcoin income ETF aimed at investors seeking BTC exposure with monthly option premium income.
BTC opened the session near $66,890 before losing momentum and sliding below $65,500. The drop pushed Bitcoin closer to $64,900, while daily trading activity also weakened.
Bitcoin started the latest session under pressure after failing to hold above the $66,500 area. The price moved lower through the day, with sellers taking control after a brief period of sideways trading.
BTC later attempted to stabilize between $65,500 and $65,900. However, that range did not hold, and the asset moved toward $64,000 as short-term momentum weakened further. The current pullback keeps Bitcoin below the levels it held earlier in the session. It also places more attention on the $65,000 zone, where buyers may try to slow the decline.
The market cap now stands at about $1.3 trillion, down 2.62% on the day. Also, 24-hour trading volume fell 23% to $24.44 billion, showing lower activity as traders wait for stronger market direction. Trading volume also dropped during the move. That decline points to weaker market participation, even as the price moved sharply lower over the 24 hours.
Meanwhile, analyst Ali Charts noted that BTC whales have scooped up more than 30,000 Bitcoin over the past week. The chart shows whale holdings rising sharply, suggesting large investors are buying during the current market weakness.
BTC Whale Movements | Source: X
This accumulation could support Bitcoin’s recovery if demand continues to build. However, BTC still needs stronger momentum to confirm a sustained bullish reversal.
Despite BTC price fall today, BlackRock launched the iShares Bitcoin Premium Income ETF under the ticker BITA. The fund is designed to give investors bitcoin exposure while generating income through an options-based strategy.
BITA Bitcoin Income ETF | Source: X
BITA holds bitcoin exposure through direct spot BTC holdings and shares of BlackRock’s iShares Bitcoin Trust ETF, known as IBIT. It also sells call options on about 25% to 35% of its IBIT holdings to collect option premiums.
The income generated from the options strategy is expected to be distributed to investors monthly. However, the fund’s payouts may change depending on market conditions and option premium levels.
The ETF gives investors another way to access Bitcoin through a listed product. Unlike standard spot Bitcoin ETFs, BITA focuses on combining BTC exposure with an income strategy.
The launch of BITA did not stop Bitcoin from falling during the session. Traders remained focused on wider market pressure, ETF flows, and macroeconomic risks. Bitcoin also faced caution ahead of the Federal Reserve policy update. Investors were watching interest rate guidance, inflation signals, and any changes in the central bank’s tone.
The market has also seen weaker institutional demand in recent sessions. Reports showed that U.S. spot Bitcoin ETFs recorded $64.09 million in net outflows on June 15.
Grayscale’s GBTC accounted for $124.01 million in exits during that session. Those outflows reduced near-term support from ETF demand and added pressure to the broader Bitcoin market.
Bitcoin price today remains under pressure after the asset failed to sustain its latest recovery. BTC met resistance near the 100-day exponential moving average before turning lower again.
