Bitcoin Struggles Near 21-Month Low as Ether Treasury Firm Ramps Up Buying

Bitcoin slipped to a 21-month low of $57,737 before recovering to trade near $61,490.

The rebound came even as the fear and greed index sat at 22, deep in “Fear” territory. BTC remains down about a third since January, and June proved brutal, falling 20.5% to close at $58,526, its weakest month since 2022.

Analysts Split On What Comes Next

Bitcoin closed June below its 200-week moving average of $62,000 but above its realized price of $52,000. One well-known analyst pointed out that past bear market bottoms always fell below realized price, suggesting more downside could follow, possibly toward $52,000. Spot Bitcoin ETFs saw $4.5 billion in outflows during June alone, the largest since these funds launched.

Ether Treasury Firm Returns To Buying

After pausing for weeks, a major Ether treasury company resumed purchases, adding 10,000 ETH worth roughly $16 million at an average price of $1,611. Its total holdings now stand at 866,725 ETH, though liquidations across Bitcoin and Ether hit $8.35 billion last quarter, leaving thinner market liquidity heading into Q3.