Bitcoin (BTC)

Price is hovering around $60,000 on June 29, down 0.3% over the past 24 hours, with a market cap of $1.20 trillion and $21.23 billion in trading volume. The Fear and Greed Index dropped to 12, the lowest reading of the entire 2026 correction cycle, signaling extreme fear while price simultaneously pushed above the key $60,000 level. Total crypto market cap sits near $2.05 to $2.12 trillion.

Bitcoin has fallen 44% from its October 2025 peak of $125,000 and 29% from the May 11 high of $82,349. The 52-week low sits at $58,100. Bitcoin dominance has climbed to 58.07% to 58.79% as capital concentrates in BTC during the broader selloff.

On-chain network activity has collapsed. Active address deviation is at negative 49.9% to negative 86, meaning far fewer wallets are transacting than the recent baseline. Fees have dropped to 1.4 satoshis per byte, near the bottom of the range. Roughly 50,000 BTC was sent to exchanges at a loss over the past 24 hours, with exchange reserves increasing by 85,000 BTC since the start of 2026.

ETF Outflows

U.S. spot Bitcoin ETFs recorded $4.06 billion in net outflows in June, making it the worst month on record. The previous record was $3.56 billion in February 2025. Daily outflows hit $447.41 million on June 29 (7,578 BTC), with 7-day outflows reaching $1.74 billion (29,552 BTC). A 13-day consecutive outflow streak in early June totaled $4.4 billion. Total assets under management across all spot Bitcoin ETFs have fallen to roughly $72.82 billion.

Derivatives & Open Interest

Bitcoin futures open interest collapsed from $42 billion in early May to roughly $20.5 to $25 billion, the lowest in six months. Funding rates flipped from positive to neutral and briefly negative. Spot volume plunged 57.39%. The taker buy sell ratio moved from 1.0476 on June 15 to 0.9137 on June 24, shifting dominance to the sell side.

Miners

Bitcoin's production cost has climbed to around $78,000, well above the current spot price near $60,000. Hashprice has fallen below $35 per PH/s per day, near break-even level for many operators. Miners accelerated exchange deposits in June with two large inflow events: 23,000 BTC and 19,560 BTC. Industry reserves have declined to about 1.8 million BTC.

Macro Context

The candle for the week ended June 28 closed below the 200-week simple moving average for the first time since early 2023. The aggregate net long dollar position rose 18% to $34.5 billion in the week ended June 22, the highest in seven years. Leveraged funds' short bets in SOFR futures hit a record 2.97 million contracts, representing over $700 billion in notional bets on rising interest rates. Grayscale identified two bear market scenarios: a base case where CLARITY Act passage and Fed pause signal a bottom, versus a bearish scenario with delayed legislation and tighter policy prolonging the decline.

Key Levels to Watch

Resistance sits at $60,833 (upper Bollinger) and $61,158 (50 EMA). Support sits at $59,260 (lower Bollinger). The next major downside target is $53,400 to $55,000, aligned with Bitcoin's realized price of $53,418.60 and estimated mining cost near $54,879. MVRV is converging toward 1 in this area, a level historically linked to relative undervaluation and possible market bottoms. RSI sits at 37.86 to 39.88, neutral.

Ethereum (ETH)

Ethereum is trading around $1,578 to $1,581, up 0.3% to 0.74% over the past 24 hours. Market cap sits at $190.48 to $190.84 billion with $7.57 to $8.02 billion in daily trading volume. ETH is down more than 8% on the week after sliding to $1,565 on June 25. Ethereum's share of total crypto market cap is roughly 9.2%.

ETF Outflows

Ethereum spot ETFs saw daily redemptions of 16,810 ETH worth $26.22 million on June 29. Spot ETFs have shed about $471 million in June and $273 million last week alone.

On-Chain Activity

Ethereum's total value locked fell from $38.328 billion to $37.43 billion, with active addresses dropping nearly 33% during the week from 566,659 to 380,719 and daily transactions declining from 2.84 million to 1.46 million.

Institutional Activity

SharpLink bought 39,196 ETH worth $62.4 million over just four days, according to CoinGecko on June 29. This suggests institutions are quietly accumulating despite retail panic.