TechFlow News, June 26: According to The Block, the U.S. Federal Reserve’s near-term rate-cut expectations further cooled following May’s core PCE inflation data—which came in higher than expected at a 3.4% year-on-year increase, the highest since October 2023. As a result, Bitcoin fell to an intraday low of $58,000 on Thursday, marking its lowest level since late 2024; it is currently trading sideways around $59,000.
U.S. spot Bitcoin ETFs recorded net outflows for six consecutive trading days, with a single-day net redemption of $696 million on June 25. Spot Ethereum ETFs also posted net outflows for six straight days during the same period, with $81.9 million flowing out on the same day. Analysts noted that Bitcoin’s dominance remains near 55%, suggesting capital rotation toward higher-quality assets rather than broad-based market withdrawal. Ki Young Ju, CEO of CryptoQuant, stated that Bitcoin’s four-year rolling realized price risk/reward ratio has yet to reach historical cycle lows, implying Bitcoin may still be far from this cycle’s bottom.
