Bitcoin is still experiencing repeated shocks in the vicinity of $60,000 and the market is temporarily missing a clear direction. The expiration of the concentration of options, the continued outflow of United States spot bitcoin ETF, and macro-level environmental constraints have suppressed the willingness to buy.

Approximately $11 billion in options due

On 29 June, BTC delivered in the vicinity of $599 million, which fluctuated over the past week between $58,000 and $61,000. According to the article, approximately $11.1 billion of bitcoin options are centrally settled on a monthly maturity date, and the $60.0 million implementation price has gathered more to watch the fall, making it easier for prices to be locked close to the integer level by making the mechanistic trade a result of market sprinting.

At the same time, the redeeming pressure of the cash ETF continues. SoSoValue data show that American real bitcoin ETF net outflows were close to $1.79 billion last week, the largest single-week outflows since 2026. Over the past month, the cumulative net outflow has exceeded $6 billion, which means that some fund managers need to sell the corresponding bitcoin to pay off.

  • Last week, American spot bitcoin, ETF net outflow was about US$ 17.90 billion.
  • Net cumulative outflows over the past month exceeded $6 billion
  • In last week's crash, more than $800 million was cleared.

Funds favour AI and Chip Unit

In addition to the encryption market itself, funds continue to flow to artificial intelligence and semiconductor plates. Compared to more volatile digital assets, some investors prefer more clearly-predicted technology companies. At the same time, the financing concerns of the leveraged Bitcoin Treasury have slowed down market sentiment and put a new round of deleveraging pressure on encrypted assets.

The macro level also does not provide clear support. Inflation in the United States remains adhesive, the job market remains resilient, and the market's expectation of short-term interest-rate reductions for the Federal Reserve has cooled, and the rate of return on United States debt has remained high and the dollar has been supported. Such environments are often detrimental to the performance of highly volatile risk assets.

Although the situation in the Middle East has eased somewhat more than before, the sense of flight has not completely subsided. Oil prices have recovered to around $70 per barrel, markets are still following the progress of negotiations on the Strait of Hormuz, and geo-risks continue to limit risk preference rehabilitation.

$62,000 into a rebound observation position

In terms of price structure, bitcoin has not escaped repression. The article mentions that the solar line is still below the trend resistance level of approximately $661 million and that the empty pattern has not changed significantly. 4 On the hour chart, prices are still constrained by the downward trend line, with rebounds above $61,000 being hampered several times.

The CoinGlass liquidation data show that the current price ranges from approximately $61,000 to $618 million above the current price, and from $575 to $58,000 below, all bring together more liquidity. Short-term funding tends more to compete around these highly leveraged settlements than to promote unilateral trends.

Citing analysts ' views, the article argues that, if Bitcoin is to relieve the current pressure, it will first need to re-establish itself in the $62,000 area; if $58,000 fails, the next more visible support area could be moved down to $55,000 to $56,000. Market-defensive sentiments may continue to be maintained if ETF continues to move out, the return on United States debt resumes, or if the situation in the Middle East resumes.