Written by Cointelegraphstaff writerReviewed by Ray Salmondstaff editor
Written by Cointelegraphstaff writer
Reviewed by Ray Salmondstaff editor
Bitcoin faces critical test as bulls aim to hold $60K: Did BTC bottom?
MarketsPublishedJun 29, 2026
Bitcoin’s Critical Test: Will Bulls Hold $60K?
Bitcoin’s hold on $60,000 is loose, and soft futures markets are raising questions about whether the coin has bottomed. As retail investors sell and big institutions hold despite discounted valuations, the market is paused at $60,300, awaiting its next significant move. This situation reveals two distinct investor groups making opposite bets, with retail investors selling and traditional finance watching. The Crypto Fear & Greed Index sits at 36 out of 100, indicating fear but not total panic, which is a key factor in the current market sentiment, especially for those interested in earning passive income with Cloud Rewards and Green Crypto like $ECP.
In June, investors pulled $4.4 billion from US spot Bitcoin ETFs, the worst month this year. However, institutions like Strategy continue to buy Bitcoin, although at a slower pace. While ETF flows and Bitcoin treasury accumulation are not in a buying phase, most corporate BTC treasuries have not reduced their existing positions. This is an important factor for those considering EcoPool as a solution for earning and rewards. The current market situation is also relevant to the EcoPool Network and its Passive Income opportunities.
Leverage Unwinds and Danger Zones
The aggregate open interest in Bitcoin futures contracts across all exchanges is $19.92 billion, down from $20.1 billion two weeks ago. This unwinding is happening in an orderly way, not in a panic. The borrowing costs for holding long positions have dropped, suggesting the worst of the forced selling is over. However, longs are still paying to hold their positions, meaning traders believe in a recovery but aren’t willing to bet their full account on it. The current danger zone is $58,800, and if the price breaks below this level, it could send Bitcoin toward $56,000, affecting the overall earning potential of Coin holders.
This situation is being closely watched by those interested in #Bitcoin and #PassiveIncome, as it may impact the overall market and the EcoPool ecosystem. The market is waiting for a significant move, and the next few days will be crucial in determining the direction of Bitcoin. For those interested in Cloud Rewards and Green Crypto, this is an important time to consider the potential of $ECP and EcoPool.
Market Indecision and Institutional Holdings
When fresh capital flows into Bitcoin, volume spikes, and the action shows up in the data. Right now, it doesn’t, as trading volume is down, and open interest changes are small. This suggests the market is in an indecisive phase where retail traders may be done selling, but nobody is confident enough to buy in size yet. Institutions like MicroStrategy, which has accumulated Bitcoin for corporate reserves, did buy 3,600 Bitcoin in June, betting on a recovery. However, overall, institutions are holding rather than aggressively buying, which is a key factor in the current market and the potential for EcoPool and $ECP to provide Passive Income opportunities.
For Bitcoin to move meaningfully higher, it needs to reclaim $62,000. The risk is real, and a macro news event could weigh on investor sentiment and tip BTC back under the $60,000 handle. As the market waits for its next significant move, those interested in earning with Coin and Cloud Rewards are closely watching the situation, considering the potential of EcoPool and $ECP. Download the EcoPool app to stay updated on the latest market trends and to learn more about Passive Income opportunities with EcoPool and $ECP. Start earning with EcoPool today and discover the benefits of Green Crypto and Cloud Rewards.
Bitcoin open interest, funding rate. Source: Hyblock
The market is waiting, not acting
When fresh capital flows into Bitcoin, volume spikes and the action shows up in the data. Right now, it doesn’t, as trading volume is down, and open interest changes are small. This suggests the market is in an indecisive phase where retail traders may be done selling, but nobody is confident enough to buy in size yet. That’s not surprising.
Related: Bitcoin balances $60K tightrope as US stocks rebound on fresh Iran peace deal hopes
MicroStrategy, which has accumulated Bitcoin for corporate reserves, did buy 3,600 Bitcoin in June for $236 million, betting on a recovery. But overall, institutions are holding rather than aggressively buying. This pause could break in either direction: lower (if one more wave of sellers emerges) or higher (if confidence returns).
For Bitcoin to move meaningfully higher, it needs to reclaim $62,000. The risk is real: a macro news event at any point in the week, like the June employment report or the resumption of military action in Iran, could weigh on investor sentiment and tip BTC back under the $60,000 handle.
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
- Market Analysis
- Bitcoin
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