Bitcoin Slips Below $60K USD. A Ceasefire Announcement Offers Late Relief.
Bitcoin and Ethereum continued their decline this week, with Bitcoin briefly slipping below $60,000 USD as ETF outflows, a stronger U.S. dollar, and growing investor interest in AI stocks pulled capital away from crypto. Spot Bitcoin ETFs recorded close to $1.8 billion in outflows over the past seven days alone, one of the largest weekly figures of the year.
Late in the week, a confirmed U.S.-Iran ceasefire announcement gave markets a reason to breathe. Silver rallied sharply off its lows on the news, and broader risk sentiment improved heading into Monday, even as crypto remained under pressure from its own set of headwinds.
Veteran trader Scott Melker noted that pullbacks like this have happened before, and Bitcoin has always come through the other side. Periods of ETF outflows and dollar strength have historically been temporary headwinds rather than permanent shifts in the asset’s trajectory.
RapidEX keeps you ready for whichever direction the data points, with fast funding, real human support, and 100+ Canadian locations.
Market Intelligence & Action
Weekly Snapshot (June 23 – June 29, 2026)
A difficult week for crypto as Bitcoin ETF outflows, a stronger U.S. dollar, and an AI-driven rotation in equities pressured Bitcoin below $60,000 USD and dragged Ethereum and Litecoin lower alongside it. Gold and silver also pulled back through most of the week before a confirmed U.S.-Iran ceasefire announcement sparked a sharp late-week bounce in silver.
| Asset | Week Open (CAD) | Current Level (CAD) | 7-Day Trend |
|---|---|---|---|
| Bitcoin (BTC | $91,629.55 | $82,500 | -10.0% |
| Ethereum (ETH) | $2,450 | $2,175 | -11.2% |
| Litecoin (LTC) | $80 | $66 | -17.5% |
| USD Coin (USDC) | $1.36 | $1.36 | 0.0% |
| Gold (XAU/oz) | $5,800 | $5,566 | -4.0% |
| Silver (XAG.oz) | $93 | $83 | -10.8% |
This Week’s Updates
1. Macro: ETF Outflows and AI Rotation Pressure Bitcoin Lower
U.S. spot Bitcoin ETFs recorded close to $1.8 billion in outflows over the past week, among the largest weekly redemptions of the year. A stronger U.S. dollar and rising investor enthusiasm for AI stocks pulled capital away from crypto, while elevated rate hike expectations added further pressure. Late in the week, a confirmed U.S.-Iran ceasefire announcement gave markets some relief, sparking a sharp rally in silver and helping ease the broader risk-off tone heading into Monday.
Pro Tip: ETF outflow weeks have happened before and have historically reversed once sentiment stabilizes. Pullbacks driven by rotation rather than fundamental weakness have tended to be shorter-lived than they feel in the moment.
2. Industry News: Bitcoin Dominance Slips as Capital Rotates Broadly
Bitcoin dominance eased to around 56% this week as the broader sell-off pulled both Bitcoin and altcoins lower together, rather than capital concentrating in either direction. Bitcoin remains rangebound between roughly $59,000 and $61,000 USD as analysts watch for the next catalyst. Separately, BlackRock added Ethena’s USDe synthetic dollar to its Aladdin platform, which manages over $20 trillion in assets, a notable expansion of stablecoin infrastructure into mainstream institutional tools even during a difficult week for crypto prices broadly.
Market Insight: Institutional infrastructure decisions like BlackRock’s USDe integration tend to move independently of short-term price action. They are a useful reminder that the building continues even when prices pull back.
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The RapidEX Knowledge Centre
What’s a Block Explorer? Your GPS for the Blockchain
Ever hit send on a crypto transfer and then just wondered where it went? Every Bitcoin and Ethereum transaction is recorded permanently on a public ledger, visible to anyone. A block explorer is the tool that lets you search that ledger yourself, no waiting on hold required.
What It Is. A block explorer is a website that lets you search the blockchain the same way you would search Google. For Bitcoin, popular options include Mempool.space and Blockchair. For Ethereum, there is Etherscan. You can look up transaction IDs, wallet addresses, and block details.
What a Transaction Tells You. Paste your transaction ID into mempool.space and you will see whether it is confirmed or still pending, the amount sent, the sending and receiving addresses, the fee paid, and the exact date and time. The blockchain never forgets and never lies.
Why It Matters. Block explorers let regular people verify without trusting anyone. Instead of hoping your crypto arrived, you can confirm it yourself in about 30 seconds. Worth noting, wallet addresses are not automatically linked to your real name. It is more like a P.O. box than a home address.
The RapidEX View: Next time you send or receive crypto, grab the transaction ID from your wallet and paste it into mempool.space for Bitcoin or etherscan.io for Ethereum. Watching it move from pending to confirmed is a small but satisfying way to take control of your own transactions.
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