Bitcoin has dropped to 58,000 dollars, the lowest level this year.

Bitcoin has dropped to $58,000, the lowest level since 2026, and is over 50% below the all-time high of $126,300. Analyst Simon Peters from eToro highlighted that the crypto asset markets have been affected by concerns over inflation and massive capital outflows from ETFs.

Last week, spot Bitcoin ETFs recorded net outflows of approximately $1.79 billion, the second-largest weekly outflow since their launch in January 2024. Inflation in the U.S. accelerated to 4.1%, the highest level in the last three years, which could lead the Federal Reserve to maintain a restrictive monetary policy.

Traders are awaiting statements from Federal Reserve Chairman Kevin Warsh and labor market data, which could influence economic expectations. Bitcoin is near a key support level, and investors will be monitoring the flow trends towards ETFs and the impact of economic data on the market.