Bitcoin: Drops Below $58,000 Lowest in 652 Days
Bitcoin drops below $58,000, erasing $1.35 trillion as June logs 20.48% loss; historical data shows average July rebound of 7.6% after six straight red Junes.
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Bitcoin fell below $58,000, marking its lowest level in 652 days while shedding 54% from the peak and erasing more than $1.35 trillion in market value.
June closed with a 20.48% decline, the worst June performance since 2022, yet the last six red Junes were each followed by a green July that delivered an average return of 7.6%.
Price action on the 4h chart shows BTC at $59003.88 inside the Bollinger Bands with the upper resistance at $60877.12 and lower support at $58473.66; the bearish EMA50 at $60598.36 and EMA200 at $65549.56 frame the longer-term structure while the MACD death cross at -496.13 and neutral RSI of 41.32 keep downside pressure intact, pointing to a likely test of the lower band before any sustained recovery attempt in the historically favorable July window.
Kashif Raza
@simplykashifThis personal account shares perspectives on technology startups and digital innovation, with content spanning AI advancements, software development trends, and entrepreneurial strategies for building tech-focused businesses.
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