Bitcoin (BTC) is falling further to end the first half of 2026 on a down note.
In early trading on June 30, Bitcoin is down another 3% and trading at $58,730 U.S., its lowest level in nearly two years.
Despite several attempts to rally, Bitcoin and other cryptocurrencies continue to see their prices weaken as investors pull capital from digital assets and move into other areas of the market.
Ethereum (ETH), Solana (SOL) and Dogecoin (DOGE) are each down 4% to 5% on June 30 as the entire crypto market continue to erode.
Analysts note that crypto prices have slowly declined since last autumn rather than suffer a crash, a trend that is likely to continue with Bitcoin below the key support level of $60,000 U.S.
Bitcoin’s price peaked at $96,150 U.S. on Jan. 15 of this year. Since then, the price has trended consistently lower despite a rally in the broader market.
U.S. stock indices are wrapping up their best first-half performance in five years, with the technology-heavy Nasdaq Composite index having gained 20% in the second quarter.
Unfortunately, cryptocurrencies haven’t shared in the rally as investors shift money into stocks tied to artificial intelligence (A.I.) and place bets on prediction markets such as Kalshi.
Concerns about higher interest rates in coming months and geopolitical uncertainty are also weighing on the prices of Bitcoin and other cryptocurrencies, say analysts.
A big factor in Bitcoin’s weakness continues to be outflows from exchange-traded funds (ETFs) that track the spot price of BTC.
More than $5 billion U.S. has flowed out of spot Bitcoin ETFs in this year’s first half, the worst performance for the funds since they received regulatory approval in early 2024.
Bitcoin hit an all-time high of just over $126,000 U.S. in early October last year but has gradually slid lower since then.
