On the evening of 24 June, Bitcoin plummeted to $59,060 as the dollar index (DXY) strengthened, reaching a 13-month high. By the time of publication, the first cryptocurrency had recovered to $61,700, but the market remains under pressure: $1 billion of positions were liquidated in 24 hours, of which $780 million went to the London. The fear and greed index has fallen to an extreme 12 points, and spot Bitcoin ETFs have recorded net outflows for a sixth consecutive week.

CryptoQuant analysts recorded a historical peak in fund inflows to savings addresses, indicating a deep gap in market sentiment. Retail investors are panicking by selling assets, while big players are actively buying up offers at record rates. Technical analyst Joao Vedson notes that the market is trying to exit from the phase of surrender, though the "extreme scenario" of past cycles with large-scale miner losses is still a long way off.

To recover from the rising trend, Bitcoin must be anchored above key support. According to the founder of MN Trading, Mihael van de Poppe, digital gold should close a week above the 200-week sliding average (200-WMA), which runs at around $63,000. Downward pressure persists in the futures market, and positive catalysts are not foreseen in the short term.