Spot BTC ETF outflows reach $691 million and options expiry approaches, Bitcoin drops to $59,400

Odaily reports that the price of Bitcoin fell to around $59,400 today. On Thursday, US spot Bitcoin ETFs recorded net outflows of nearly $691 million, marking the largest single-day outflow since May 27.

Meanwhile, options contracts worth approximately $10.6 billion are set to expire on Friday. Over the past 24 hours, total leveraged cryptocurrency positions liquidated across exchanges exceeded $1.1 billion, with long positions accounting for $875 million of that amount. Bitcoin is currently down about 53% from its all-time high of $126,080 reached in October 2025, with a 24-hour price range of $58,189 to $60,724. Its total market cap has fallen to around $1.18 trillion. (Decrypt)