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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
06/25/2026

Bitcoin Slides Toward $59K as ETF Outflows Hit $5.9B and DXY Surges

What happened: Bitcoin traded down to $59,060 on June 24, 2026, approaching new yearly lows as the US Dollar Index (DXY) surged to a 13-month high.

Bitcoin Slides Toward $59K as ETF Outflows Hit $5.9B and DXY Surges

What happened: Bitcoin traded down to $59,060 on June 24, 2026, approaching new yearly lows as the US Dollar Index (DXY) surged to a 13-month high. Spot BTC ETFs recorded 13 consecutive days of net outflows totaling approximately $4.33–4.4B, with cumulative six-week redemptions reaching $5.94B—the longest streak since their January 2024 launch. MicroStrategy (now "Strategy") added only 520 BTC for the week ending June 21, its lowest intake in 18 months, and sold 32 BTC to fund dividends, marking its first net-sell week. The US M2 monetary base hit $23.05T, while gold and crude oil both declined.

Why it matters: The confluence of strong dollar momentum, record ETF outflows, and reduced institutional accumulation signals a shift in market sentiment. While the DXY-BTC inverse correlation has historically held, recent JPMorgan analysis notes this relationship flipped positive for the first time since before 2014, complicating macro models. Despite the bearish setup, US unemployment claims fell, suggesting underlying economic resilience. The market is now watching whether Bitcoin can hold the $59,000 support or if further liquidations will drive prices lower.

Source: Cointelegraph