Bitcoin trades near $65,600 as weakening institutional demand keeps prices range-bound

Bitcoin trades near $65,600 amid weakening institutional demand, with BTC ETFs recording $316M in net outflows for the 5th consecutive week. A US-Iran peace deal improved global risk sentiment, crashing oil prices 4% and triggering a relief rally in crypto, though markets remain cautious ahead of the Fed's June 16-17 policy meeting.