What happened: Bitcoin has slipped near $58,900, marking a 7% decline over the past week. This downward pressure is being driven by a combination of ETF outflows, a strong US dollar, and recent signals from the Federal Reserve. Currently, the Fear and Greed index has plummeted to 16, signaling "extreme fear" among market participants.
Why it matters: The market is at a critical turning point. Investors are now looking to see if ETF flows will stabilize and if demand will pick up in the third quarter, or if the weakness seen in the first half of the year will continue to weigh on prices.
