Bitcoin fell to its lowest level of 2026 as several factors combined to trigger heavy selling across the crypto market.
The biggest driver was continued outflows from U.S. spot Bitcoin ETFs, with investors withdrawing $469 million in a single day. Expectations of higher U.S. interest rates also weighed on sentiment after inflation concerns increased the likelihood of further Federal Reserve tightening. Selling by some large Bitcoin holders added pressure, while the break below key price levels triggered more than $1 billion in leveraged liquidations, accelerating the decline. A stronger U.S. dollar and weaker appetite for risk assets further contributed to the selloff.
Markets will now watch upcoming U.S. economic data, Federal Reserve signals, ETF flows, and whether Bitcoin can hold the key $59,000 support level.
