Crypto news

The flagship cryptocurrency updated its local anti-record, dropping to $59,023.98 on Wednesday, June 24. This is the lowest level since October 2024. The market is under pressure from a combination of factors: a collapse in the technology sector on the stock market and a prolonged capital outflow from spot Bitcoin ETFs. At the time of writing, the price had partially recovered to $61,469.

Over the past year, the value of "digital gold" has broken through the psychological mark of $60,000 to the downside for the third time. From the all-time high recorded in October 2025 at $126,080, the total correction depth is about 52%. This is not just a local decline, but a sustained downtrend that has been ongoing for eight consecutive months.

ETF Outflows: Seventh Week of Continuous Pressure

Investors continue to withdraw funds from spot Bitcoin funds. Over the past week, net outflows totaled $182 million. The negative trend has been observed for the seventh consecutive week. Total assets under management of the funds have shrunk to $77.5 billion, whereas at the end of 2025, this figure exceeded $113 billion. Each closure of positions by large and retail investors forces fund issuers to sell physical cryptocurrency on the open market, which, given weak demand from institutions, only increases pressure on the price.

Capital Rotation and Regulatory Pause

There is a clear shift in investor interest from the crypto sphere to traditional assets — stocks of companies in the artificial intelligence sector, initial public offerings, and prediction platforms. The liquidity of the cryptocurrency sector has significantly decreased. An additional negative factor is the uncertainty in the US legal landscape. The key vote on the CLARITY Act bill, which is intended to lay the foundations for regulating the crypto industry, is expected within the next five weeks before Congress goes on recess. Postponing consideration until the fall will deprive the market of a powerful growth driver during a critical period.

Institutional Support and Reduced Volatility

Notably, the current decline does not feel as acute as previous prolonged bear phases. As noted by Sam Callahan, Director of Strategy and Research at OranjeBTC, the expansion of the circle of institutional investors smooths out sharp fluctuations both up and down. "People often say this is the worst bull market and the best bear market. In reality, Bitcoin's volatility has decreased compared to previous bear phases. The reason is that the circle of investors has grown, liquidity has become higher, and the holder structure now includes fewer small retail participants," he emphasized.

Whether the support zone formed by large players will hold depends on the reaction of the traditional financial sector to corporate earnings reports from technology giants. For a trend reversal, signals from analysts about reaching a market bottom need to translate into real purchase volumes.

Analytical commentary from Cryptalist: A drop below $60,000 is a serious signal, but not a catastrophe. The market is restructuring to a new reality dominated by institutions. The key question now is whether the $58,000-$59,000 zone can act as a solid bottom. If ETF outflows continue and regulatory clarity does not emerge in the coming weeks, we could see a test of levels at $55,000 and below. However, the long-term holder structure has become much stronger than in previous cycles.