Bitcoin has fallen to its lowest level in 21 months, influenced by expectations of interest rate hikes and shifting investor confidence. The cryptocurrency's price dipped 1.5% to $57,742 during Asian trading on June 30, 2026. This decline is largely attributed to hawkish comments from Federal Reserve officials, which have intensified expectations of interest rate hikes.
Investors withdrew over $4 billion from U.S.-listed Bitcoin exchange-traded funds in June alone, marking the highest outflow since their inception two years ago. Analysts are concerned that upcoming U.S. non-farm payroll data could further pressure Bitcoin prices if it reinforces the Fed's hawkish stance.
Strategy Inc., a major cryptocurrency buyer, announced a restructuring of its Bitcoin strategy, resulting in a 6% drop in its stock price. The company is shifting its focus towards prioritizing liquidity and balance sheet management over Bitcoin accumulation, which has raised concerns about its ability to sustain demand for the cryptocurrency.