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Bitcoin hits 21-month low near $58,000 amid heavy ETF outflows and market pressure.

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

Bitcoin price dropped to its lowest level in over 21 months, falling to around $57,950 on July 1, 2026, amid sustained selling pressure from U.S. spot Bitcoin ETFs, especially BlackRock’s iShares Bitcoin Trust. The market cap declined by about $15.1 billion in 24 hours, hovering near $1.2 trillion. Despite heavy outflows totaling $4.51 billion in June, Bitcoin whales have accumulated over 270,000 BTC recently, suggesting potential support. Analysts warn that if the $58,000 support fails, prices could drop to $40,000, but a rebound is possible if ETF selling eases.

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