Bitcoin Holds Below 60,000 as Ether and Solana Pull Away
Key Facts
- Bitcoin fell about 1.3 percent to around 59,379 dollars on June 29. It stayed below the 60,000 line it lost in late June.
- Ether bucked the trend, rising about 1.2 percent to near 1,590 dollars.
- Solana was the day’s standout among the majors, up nearly 4 percent.
- Steady withdrawals from Bitcoin funds remain the heaviest weight on the price.
- Bitcoin is down about 22 percent from early-June levels near 76,000, by The Rio Times’ calculation.
- It is heading for a rare back-to-back quarterly loss.
Today’s Focus
Bitcoin’s slow bleed continued, but the rest of the market refused to follow in lockstep. Ether and Solana rose even as the largest coin stayed pinned below 60,000.
That split is the story of the day. The forces dragging Bitcoin lower are the same ones lifting the AI and chip shares that money is rotating into.
01 A market pulling in two directions
The pressure on Bitcoin is familiar by now. Investors have been pulling money out of the big Bitcoin funds, while the prospect of higher US interest rates and a stronger dollar makes a coin that pays no income harder to hold.
On top of that, a wave of money has rushed into shares tied to artificial intelligence and computer chips. That same pull has drained some of the speculative cash that used to flow into crypto.
Yet the day was not uniformly red. Ether drew support from corporate buyers building large holdings, and Solana climbed almost 4 percent, a reminder that traders are still rotating between coins rather than abandoning the market.
Bitcoin’s trend stays down while fund outflows and rate fears persist, and the lost 60,000 line is now resistance overhead. The gains in Ether and Solana show appetite has not vanished, only narrowed.
02 The session in numbers
| Coin | Price (USD) | Change | Read |
|---|---|---|---|
| Bitcoin | 59,379 | −1.30% | Below 60,000 |
| Ether | 1,590 | +1.15% | Bucked the trend |
| Solana | 74.15 | +3.88% | Day’s standout |
| XRP | 1.05 | +0.60% | Modest gain |
| BTC from early June | ~76,000 | −22% | Month of declines |
Prices are US-dollar levels around the June 29 close; the live perpetual market quoted Bitcoin a touch higher near 59,519, a normal gap between spot and futures.
Live Market IntelligenceCrypto — Live Market Board
Rio Times · Live Market Intelligence
Crypto — Live Market Board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| BTC | 65,486 | +0.39% | -44.25% | 65,230 | 65,636 | 65,139 | 31,179,800,576 |
| ETH | 1,922 | +0.95% | -48.95% | 1,904 | 1,929 | 1,901 | 11,991,041,024 |
| SOL | 78.05 | +0.33% | -60.17% | 77.79 | 78.36 | 77.69 | 2,020,086,656 |
| XRP | 1.12 | +0.97% | -68.43% | 1.11 | 1.13 | 1.11 | 1,246,098,944 |
| BNB | 573.90 | +0.55% | -25.15% | 570.73 | 575.49 | 570.66 | 1,090,133,504 |
| ADA | 0.17 | +1.36% | -80.67% | 0.17 | 0.17 | 0.17 | 415,130,784 |
| DOGE | 0.07 | +0.56% | -73.30% | 0.07 | 0.07 | 0.07 | 689,644,224 |
| AVAX | 6.61 | +0.51% | -74.03% | 6.58 | 6.65 | 6.57 | 273,910,688 |
| LINK | 8.63 | +0.59% | -55.80% | 8.58 | 8.65 | 8.57 | 248,133,072 |
| DOT | 0.83 | +0.83% | -81.50% | 0.83 | 0.84 | 0.83 | 85,212,760 |
| LTC | 47.26 | -0.16% | -59.21% | 47.34 | 47.54 | 47.15 | 293,249,760 |
| BCH | 223.59 | +1.68% | -57.30% | 219.90 | 223.83 | 219.72 | 113,247,416 |
| TRX | 0.33 | -0.29% | +3.61% | 0.33 | 0.33 | 0.33 | 404,054,912 |
| XLM | 0.19 | -0.07% | -60.21% | 0.19 | 0.19 | 0.19 | 140,577,984 |
| HBAR | 0.07 | +0.65% | -75.26% | 0.07 | 0.07 | 0.07 | 44,009,024 |
| NEAR | 2.04 | +3.01% | -32.68% | 1.98 | 2.04 | 1.97 | 211,181,296 |
| ATOM | 1.50 | +0.53% | -71.08% | 1.49 | 1.50 | 1.49 | 25,653,268 |
| AAVE | 92.37 | +2.89% | -71.36% | 89.77 | 92.65 | 89.73 | 194,917,952 |
03 Why fund flows now drive the price
The spot Bitcoin funds that opened the market to mainstream investors have become its swing factor. When money flows in, the funds must buy actual Bitcoin; when investors pull out, the funds sell, and that selling has set the tone through June.
This is why a coin with no earnings and a capped supply now moves so closely with interest-rate expectations. Higher rates make cash and bonds more rewarding, lowering the appeal of an asset whose case rests on scarcity and future demand.
A back-to-back quarterly loss would be unusual for Bitcoin, which has historically strung together long runs of gains between sharp drawdowns. It would mark the deepest test yet of the post-fund era’s buy-and-hold thesis.
The rotation into Ether and Solana shows appetite has narrowed rather than vanished. Ether has drawn corporate buyers building it into their balance sheets, while Solana’s faster, cheaper network keeps pulling in trading activity.
04 What to watch next
The near-term path runs through the dollar and US interest rates, the two forces that have set the tone all month. A softer dollar or any sign that rate rises are off the table would ease the pressure quickly.
A return of money into the big Bitcoin funds would be the clearest sign the selling has run its course. Further out, clearer US crypto rules now moving through the Senate are a slower support that could draw institutions back.
Regulation is the slower-moving wild card. A market-structure bill working through the US Senate would, if it passes, give institutions the legal clarity many have waited for before committing larger sums.
05 Connected coverage
For the wider market backdrop, see the Global Economy Briefing.
Frequently Asked Questions
Where did Bitcoin close on June 29, 2026?
Bitcoin slipped about 1.3 percent to around 59,379 dollars, holding below the 60,000 line it lost in late June. It is heading for a rare back-to-back quarterly loss.
Did the rest of the market follow Bitcoin lower?
Not entirely. Ether rose about 1.2 percent and Solana gained nearly 4 percent on the day, so money rotated within crypto even as Bitcoin itself stayed under pressure.
Why has Bitcoin been falling?
The drivers are steady withdrawals from Bitcoin investment funds, the prospect of higher US interest rates, a stronger dollar and a pull of money into AI and chip-related shares. Together they have sapped demand since mid-June.
How far has Bitcoin come down?
Bitcoin has slid from levels near 76,000 dollars at the start of June and well below its October record above 126,000. The fall has been steady rather than a single crash.
What could turn the market around?
A softer dollar or a shift away from expected rate rises would ease the pressure, as would a return of fund inflows. Clearer US crypto rules, now moving through the Senate, are a slower-burning support.
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