In June, Bitcoin fell by approximately 20%, dropping below the $60,000 mark. This marks its worst monthly performance in four years.
On June 24, the leading cryptocurrency dipped to $59,060 amid a rise in the U.S. Dollar Index (DXY) to a 13-month high. Bitcoin opened July below $60,000.
Daily BTC/USDT chart from Binance. Source: TradingView.
Over the past 30 days, Bitcoin has lost 19.1%, according to CoinGecko. The cryptocurrency fear and greed index has settled at 11, indicating extremely negative market sentiment.
Source: alternative.me.
As noted by CoinDesk, the June crash appears "even deadlier" on the charts: the market not only declined but rapidly lost crucial support levels. For traders, this means the focus is now on whether Bitcoin can reclaim lost ground and stabilize above local lows.
Earlier, CryptoQuant reported that inflows to Bitcoin accumulation addresses reached an all-time high. This indicates panic selling from retail investors while large players are absorbing the supply.
MN Trading founder Michael van de Poppe suggested that to return to an upward trend, Bitcoin needs to close the week above the 200-week moving average—around $63,000.
It’s worth noting that June was also the worst month for spot Bitcoin ETFs in the U.S., with funds experiencing a net outflow of $4.5 billion—the worst monthly result since the products launched in January 2024.