Bitcoin fell below $59,000 on Thursday, reaching an intraday low of $58,189 before recovering toward $60,000, as selling pressure intensified following ETF outflows and long liquidations. The price drop occurred amid six consecutive days of net redemptions from U.S. spot Bitcoin ETFs and spot Ether ETFs, with outflows of $696 million and $81.9 million respectively, according to SoSoValue data. The liquidation wave totaled more than $1 billion in the past 24 hours, with long positions accounting for about $842 million and Bitcoin representing $489 million of the total, according to CoinGlass. A single liquidation of $38.05 million on the Hyperliquid platform highlighted the rapid unwinding of leveraged bets. Bitcoin ETF outflows continued, with BlackRock’s IBIT seeing $63 million leave, Fidelity’s FBTC $3.5 million, and Grayscale’s funds $23 million, while no fund recorded inflows. Short‑term holder market capitalization declined to $237.7 billion, its lowest level since October 2, 2024, as noted by CryptoQuant analyst Amr Taha. The Crypto Fear & Greed Index fell to 12 on June 25, indicating extreme fear, and short‑term holders transferred roughly 50,000 BTC to exchanges, with Binance receiving about 9,500 BTC, the highest such flow since early June. Technical indicators showed the relative strength index at 32.98, below its moving average of 37.77, and the MACD histogram slightly positive near 16.31, while the MACD line remained at -2,269.45 and the signal line at -2,285.76, suggesting limited upward momentum. Traders monitored the $59,000‑$60,000 range as a key support level, and some analysts indicated that a weekly death cross could signal further downside if the price does not recover. Bitcoin’s near‑term outlook depends on whether the price can sustain the $59,000‑$60,000 support; a break below could lead to additional declines, while a rebound toward $62,800‑$65,000 would indicate renewed buying interest.