In this video: The price of Bitcoin just fell below the 200W moving average. Video by Benjamin Cowen.
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Bitcoin (BTC) is trading near $59,700 on Yahoo Finance as of today, June 29, 2026. The cryptocurrency has fallen below the critical $60,000 psychological threshold, marking a significant cyclical drawdown of over 50% from its October 2025 peak of $125,000.
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-Macroeconomic Pressure: Hawkish Fed comments and a resilient U.S. dollar continue to redirect investor attention toward traditional assets and AI-driven semiconductor stocks.
-Institutional Outflows: Recent price drops are heavily attributed to consistent net outflows from U.S. spot Bitcoin ETFs.
-Technical Breakdown: Reports suggest BTC has been struggling against a bearish market structure, with price action consolidating below the key $60,000 and $58,000 support levels.
-Long-Term Bear vs. Bull Scenarios: Long-term analytics highlight the 50% retracement from the October 2025 all-time high of $125,000, though some analysts still maintain a positive long-term outlook depending on upcoming institutional adoption.
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