Bitcoin Hits 21-Month Low of $58,115 as Hot U.S. Inflation Data Dampens Rate Cut Hopes

On June 25, Bitcoin (BTC) plummeted to a 21-month low of $58,115 following the release of U.S. PCE inflation data, which rose 4.1% year-over-year. According to fund-flow data, U.S. spot Bitcoin ETFs recorded $469 million in net outflows, led by BlackRock’s IBIT and Fidelity’s FBTC. The market downturn triggered over $1 billion in total liquidations within 24 hours, with long positions accounting for $319 million. Analysts attribute the decline to a broader capital rotation into AI equities, such as Micron Technology, and concerns regarding Strategy’s (formerly MicroStrategy) financing model as its preferred shares (STRC) fell 20% below par. Technical indicators from COINOTAG suggest critical support at $58,115, while a Fear & Greed Index reading of 13 signals extreme market fear.