Bitcoin Slumps Below $59K Amid Record ETF Outflows

Bitcoin's price has dropped below $59K, down 7.9% over the past week, due to record outflows from spot Bitcoin ETFs that have surpassed February 2025's $3.6 billion mark.

This unexpected move challenges the idea that institutional ETF access would support Bitcoin's price, as institutions are heavily selling.

The Crypto Fear and Greed Index has reached a reading of 12, indicating extreme market fear, but also potentially signaling a buying opportunity if outflows slow.