The leading cryptocurrency continues to show signs of weakness, struggling to maintain the $59,000 level. At the same time, buyers remain cautious. Over the past week, the cryptocurrency has lost nearly 6% in value.
Overall, the crypto market also remains under pressure. Most major altcoins are trading with negative dynamics.
Ethereum (ETH) has dropped to $1,500. As a result of the price decline, it has lost its second place in market capitalization to Tether (USDT) stablecoin.
The situation is further exacerbated by ongoing capital outflows from Bitcoin ETFs. According to data from the SoSoValue platform, the negative flow in Bitcoin exchange-traded funds (ETFs) has continued for the seventh consecutive week, interrupted only by minor inflows recorded on certain days.
Technical analyst Ali Martinez pointed out that the Bitcoin accumulation process has effectively come to a halt for seven months. From November 9, 2025, to May 31, 2026, the visible demand indicator for BTC has not registered a positive value even once.
In June, this indicator fell to a new historical low of -273,000 BTC.
Experts from the analytical company Alphractal noted that short-term Bitcoin investors continue to sell the asset at a loss. The current price level does not allow this group of investors to return to profit for an extended period.
Experts estimate that such a situation is characteristic of a bear market. They believe that when the volume of realized losses begins to decrease, Bitcoin will likely form a market bottom.
Meanwhile, an analyst known by the pseudonym Ardi noted that Bitcoin is gradually entering the oversold zone on the daily chart according to the RSI (Relative Strength Index) indicator. In the previous three instances when the same technical picture was observed in the market, Bitcoin's price subsequently increased by 15-30%.
It is worth noting that on June 24, Bitcoin's price briefly fell to $59,000 against the backdrop of rising U.S. Dollar Index (DXY).
