Liquidity Drought Could Push Bitcoin to $59,000 in Near Term
Bitcoin and Ether have recently approached the lower bounds of their trading ranges, pressured by the U.S. Federal Reserve's continued hawkish policy signals, heightened geopolitical risks and thinner summer trading volumes. Market maker Wintermute said stalled ETF inflows had weakened buying demand, leaving the market more vulnerable to sharp swings caused by insufficient liquidity.
As of July 20, 2026, Wintermute warned that Bitcoin could test the key support level of $59,000 per coin in the near term if macroeconomic and geopolitical pressures persist. Investors are now watching whether the lower end of the range holds and whether inflows into spot Bitcoin ETFs resume, two important signals that the price decline may be stabilizing.
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The history behind this eventBitcoin Falls Below $60,000 as Annual ETP Flows Turn Negative
Spot Bitcoin ETFs and other ETPs have been important channels for institutional capital entering the crypto market over the past year, and their flows often influence prices. Bitcoin has now fallen below $60,000 amid a stronger U.S. dollar, a hawkish Federal Reserve stance and market leverage that has yet to be fully flushed out. Annual flows turning negative signal waning institutional allocation momentum and suggest the market could face a deeper correction.
On June 26, 2026, 10x Research founder Markus Thielen said Bitcoin could first fall to $55,000, about 8% below $60,000. K33 Research data showed that, as of June 18, rolling one-year flows stood at negative 1,176 BTC, the first negative reading since November 2023. Global ETP holdings totaled 1,466,029 BTC, down 127,774 BTC, or 8%, from their peak.
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