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Coin World News reports that the Bitcoin price has fallen below $59,000. The latest trading price is about $58,700, mainly under pressure from ETF selling, weak U.S. demand, and the breakdown of a long-term support level. In June, U.S. spot Bitcoin ETFs recorded net outflows of approximately $4.5 billion, the worst month since January 2024. BlackRock’s IBIT fund accounted for the largest share of withdrawals in June, with about $3.55 billion flowing out. In June, Bitcoin’s price fell from around $74,000 to nearly $58,000, and the market structure has also changed, with ETF demand and the Coinbase premium significantly weakening. Analyst Matthew Hyland said that if Bitcoin can hold at current levels, it may be viewed as an opportunity for a mid-term correction.