Bitcoin (BTC) fell to $59,023.98 on Wednesday, June 24, its lowest price since Oct. 10, 2024, as a retreat in tech stocks and persistent ETF outflows pushed the flagship cryptocurrency deeper into its eighth consecutive month of declines.
The move is the third time this year that BTC has traded below $60,000, adding up to a nearly 52% drop from its October 2025 all-time high of $126,080.
ETF Outflow Increases Bleeding
Spot Bitcoin ETFs have shed $182 million so far this week, on pace for the seventh consecutive week of outflows, according to SoSoValue data. Total wealth in the fund has fallen to $77.5 billion from an estimated $113 billion by the end of 2025.
Constant redemption will make the machine sell. When investors exit ETF positions, issuers must immediately withdraw Bitcoin, adding to the market’s already depleted market capitalization. indicators of corporate interests.
Capital Rotating, Standing Orders
Wednesday’s session saw investors focus on Micron Technology’s stock. Capital has existed spin away from crypto in AI stocks, IPOs, and prediction markets in 2026, forcing the amount of money available in BTC.
Regulatory controls have also failed to occur on time. The CLARITY Act, The main legal effort to establish a crypto market system framework in the US, has about five weeks to remove the secret procedural obstacle before Congress’ summer recess. Failure to do so could cause the bill to collapse, removing an asset from the market at a critical time.
Down Under Down Under, Unsettled Down
Despite the gloom, one thing is softening the blow compared to the previous crypto era. Sam Callahan, director of Bitcoin strategy and research at OranjeBTC, said Price CNBC that a larger business environment is reducing flexibility in both directions.
“People say this was the worst bull market and the best bear market. What it’s saying is that bitcoin’s not as volatile as it was in previous bear markets because of the stock markets: it’s big, it’s liquid, it’s not small things that get traded.”
— Sam Callahan, CNBC
Whether the position is based on how the ETF moves is a strong hit to Micron and whether analysts have reacted to the signals Bitcoin has taken in recent weeks that will translate into continued buying.
A note Bitcoin Has Hit Lows Since Oct. 2024 as Bear Market Extends into Eighth Month appeared for the first time BeInCrypto.
