Bitcoin Slides Toward $58,000 As U.S. Spot Bitcoin ETF Redemptions Hit $691.7 Million

Bitcoin slid toward the $58,000 area as U.S. spot Bitcoin ETFs recorded net redemptions of roughly $691.7 million to $696 million on June 25, extending a six-day redemption streak.

The selloff also coincided with a large Deribit monthly options expiry valued around $10 billion and liquidations across the crypto market topping $1 billion over a 24-hour window.

Cointelegraph

TradingView’s report tied the pressure to “another heavy day of spot Bitcoin ETF redemptions” and described how leverage flushes can accelerate intraday moves.

The same day, CryptoRank said Bitcoin fell intraday to $58,189 before clawing back toward ~$60,100, framing the move as ETF outflows deciding whether inflation relief holds.

As June’s ETF outflows mounted, Crypto Briefing said the streak reached “record 13 days” with thirteen consecutive trading days of net outflows through early June 2026 draining roughly $4.4 billion from the funds.

The Motley Fool reported that as of early evening on June 26, Bitcoin rose 0.3% to $59,623.62 while spot Bitcoin ETF redemptions totaled $1.3 billion in the past week.

Cointelegraph

CryptoRank added that the options market showed downside focus, noting “stronger put skew around the $55,000 to $60,000 area” as traders paid more attention to downside protection.

In parallel, CryptoRank quoted Matt Mena, senior crypto research strategist at 21Shares, calling the May PCE print “a brief exhale,” while also describing how BTC needed to reclaim $66k–$67k and reverse ETF flows to resume a durable bull case.

TradingView said the immediate question was whether ETF outflows cool, whether options-related pressure fades after expiry, and whether Bitcoin can hold the lower end of the recent trading range.

Crypto Briefing warned that sustained ETF outflows create persistent sell pressure because authorized participants redeem shares by selling the underlying Bitcoin, while also stating that 2026 year-to-date flows turned negative for the first time since these ETFs began trading.

KuCoin reported that US-listed spot Bitcoin ETFs saw their largest daily net outflows of June on Thursday, withdrawing $696.3 million as Bitcoin slipped below $60,000, and said June’s cumulative net outflows reached $3.61 billion.

DigitalToday’s analysis said spot bitcoin ETFs posted net outflows for 6 straight weeks and that average daily net outflows during June’s correction phase came to nearly $300 million, while Glassnode assessed bitcoin was in a “structural bearish zone” with a true market mean of $77,000.