Bitcoin trades at $58,600 as IBIT posts $219M outflow; Solana logs 3.77B transactions while June crypto hacks hit $75.9M
AI Market Summary
Bitcoin remains under pressure near $58.6K as ETF selling persists, led by heavy outflows from BlackRock's IBIT, reinforcing a risk-off tone and keeping liquidity conditions tight. A brief rally triggered large liquidations, but broader market breadth stayed weak and volumes fell. Solana's record activity and strong dApp revenue failed to lift SOL amid institutional outflows. June hacks totaled ~$75.9M, still a material overhang for sentiment.
Impact level
● High
Affected assets
BTC/USDT+4.29%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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Bitcoin was quoted at $58,600 on July 2, down 1.2% over the past 24 hours, as Bitcoin ETFs continued to see net outflows, including $219 million of selling in BlackRock’s IBIT in a single day. Solana set a new 30-day high with 3.77 billion nonvote transactions, while its ecosystem generated $257 million in revenue in Q2 and rolled out Solana Governance Proposals (SGP) to advance decentralization. Even so, broader market weakness and institutional capital outflows weighed on sentiment, leaving SOL without a notable rally. Elsewhere, XLM and ADA rose 11% and 4.5%, while June crypto hacking losses totaled $75.9 million, down 7.1% from May.
