Bitcoin opened July near $58,643 after ending June at its lowest monthly close in nearly two years, down 1.42% on the session, while Ethereum slipped 1.13% to $1,573. Total crypto market cap sits at $2.14 trillion with BTC dominance at 54.9%, and the Fear & Greed Index is pinned at 11, deep in extreme fear territory.
Why it matters
The June print was the brutal one: U.S. spot bitcoin ETFs shed $4.5 billion across the month, their worst on record. With Bitcoin now opening July at the lowest monthly close in nearly two years, the bid that institutional allocators were supposed to provide has thinned exactly when price action got ugly. The Altcoin Index at 52/100 says the pain is bleeding past Bitcoin into the long tail.
Market impact
Regulatory pressure is layering on top of the price action. The EU's MiCA deadline is forcing an estimated 80% of crypto firms out of the bloc, and the SEC has opened a rule review covering crypto funds and prediction markets, two policy fronts that can reshape how U.S. capital reaches the asset class. Against a Fear & Greed reading of 11, the flow backdrop is the headline: ETF outflows, a $4.5B monthly record, and a monthly close at a two-year low.
Source: [source](http://telegraph.controller.bot/files/8336652911/AgACAgIAAxkBAAI9t2pEwLugkuGpieRYOpsi39sa4YSpAAKTF2sbZ0koShrNXPdkFUK7AQADAgADeQADPAQ)
Frequently asked questions
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What did Bitcoin do at the start of July?
Bitcoin opened July near $58,643 after ending June at its lowest monthly close in nearly two years, down 1.42% on the session, with Ethereum at $1,573 (-1.13%).
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How bad were spot bitcoin ETF flows in June?
U.S. spot bitcoin ETFs shed $4.5 billion in June, their worst month on record, extending the outflow streak that has coincided with Bitcoin's slide to a near two-year low monthly close.
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What does the Fear & Greed Index signal right now?
The Fear & Greed Index sits at 11, deep in extreme fear territory, while the Altcoin Index at 52/100 shows the weakness is broadening past Bitcoin into the long tail.
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How is MiCA affecting crypto firms in the EU?
The MiCA compliance deadline is forcing an estimated 80% of crypto firms out of the EU, layering regulatory pressure onto an already weak tape.
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What is the SEC reviewing on crypto ETFs?
The SEC has launched an ETF rule review focused on crypto funds and prediction markets, two policy lines that can reshape how U.S. capital reaches the asset class.
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