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Bitcoin dips below $58K amid heavy selling and ETF outflows, needing stronger spot demand to recover.

Market News
01 Jul 2026
AMBCrypto
View Source
Bearish
pluang ai news

Bitcoin recently fell below $58,000, driven by aggressive selling on Binance's derivatives market and significant outflows from U.S. Spot Bitcoin ETFs, which have sold over 160,000 BTC since late 2025. This selling pressure, combined with weak spot demand and unrealized losses among new buyers, suggests continued downside risk. Unless spot buying strengthens and ETF outflows reverse, Bitcoin may face sustained price declines.

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