26.06.202603:05:45UTC+00Bitcoin Slides Toward $58,000

Bitcoin extended its slide to around $58,000 in late June, marking its lowest level since September 2024 and leaving it down roughly 50% from last year’s record high. The cryptocurrency remained under pressure amid softening institutional demand and persistent macroeconomic headwinds. US-listed spot Bitcoin ETFs have seen net outflows of about $2.92 billion so far this month, while concerns over stubborn inflation and rising expectations that the Federal Reserve will raise interest rates this year have further weighed on risk sentiment.

At the same time, markets were focused on the upcoming expiry of roughly $10 billion in Bitcoin options on Deribit on Friday. Most of these contracts are bullish positions that have lost value as Bitcoin has retreated, which may prompt traders to adopt a more defensive stance and reinforce expectations for heightened volatility.