Bitcoin and Ethereum fell about 20% in June as crypto market capitalization dropped to about $2.17 trillion, with ETF outflows, weaker sentiment and reduced leveraged positioning weighing on demand.
US spot Bitcoin ETFs saw $4.5 billion in net outflows in June, their weakest month since launch in January 2024, as Bitcoin and Ethereum each fell about 20% during the month and broader crypto sentiment deteriorated. Bitcoin touched $58,190 on July 1, while total crypto market capitalization fell from about $2.30 trillion to $2.17 trillion, according to Gate's June 2026 wealth management monthly report. Citi cut its 12-month Bitcoin target to $82,000 from $112,000 and lowered its Ethereum target to $2,240 from $3,175. Leveraged Bitcoin futures open interest fell from about $31.3 billion to $21.6 billion, indicating reduced directional exposure as prices weakened.