Bitcoin Slides Toward $58,000 As ETF Outflows And Options Expiry Add Pressure
Bitcoin’s pullback was driven by multiple simultaneous pressures rather than one catalyst. Weakness in global tech stocks, heavy spot Bitcoin ETF redemptions, a leverage flush, and a large monthly options expiry all weighed on sentiment. U.S. spot Bitcoin ETFs saw roughly $692 million to $696 million in net outflows on June 25, extending a six-day redemption streak and signaling weaker institutional demand. Derivatives markets added pressure as Bitcoin traded near $58,000 ahead of a major Deribit options expiry, with traders focused on downside strikes around $55,000 to $60,000. More than $1 billion in leveraged crypto positions were liquidated, amplifying the move. The sell-off also tracked broader risk-off trading in Nasdaq futures and Asian equities. The key question now is whether ETF outflows slow and whether Bitcoin can hold its recent range.
