Bitcoin briefly fell below $59,000 due to ETF outflows and forced liquidations, intensifying selling pressure across the crypto market. The drop pushed BTC to an intraday low near $58,189 before a slight rebound toward $60,000. Technical indicators remain weak, with the RSI near oversold and the $59,000-$60,000 range critical for support. Market watchers warn that failure to hold this zone could lead to further declines, while short-term holders are showing stress by moving BTC to exchanges at a loss. The crypto market remains fragile amid ongoing ETF redemptions and poor risk appetite.
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