Bitcoin Tests $59,000 Amid ETF Outflows and Options Expiry Pressure

As Bitcoin attempts to stabilize around the $60,000 level, headlines point to negative factors such as ETF outflows and end-of-maturity pressure. Technical indicators offer no clear direction: the RSI is neutral near 50, the MACD is in negative territory but approaching its signal line, and the price is trapped between the 20-day and 50-day moving averages. In the short term, fluctuations within the $59,000-$60,000 range can be expected, but a stronger catalyst is needed for a decisive breakout.

Coinbase stock is being negatively impacted by Bitcoin testing the $59,000 level, along with ETF outflows and end-of-expiry pressure. Technical indicators also point to weakness: RSI at 42 is below the neutral zone, the MACD line is below the signal line and in negative territory. The price has closed just below the 20-day SMA and is trading well below the 50-day SMA. Selling pressure is likely to persist in the short term, with a high probability of a pullback toward the $145 support level.

MSTR is experiencing intense selling pressure in line with the decline in Bitcoin's price. Although the RSI is in oversold territory at 21, the MACD remains negative and below the signal line. Trading below the 20- and 50-day moving averages confirms a weak short-term trend. Bitcoin ETF outflows and month-end expiration pressures could add further selling pressure on MSTR. However, given the oversold conditions, some technical correction may occur, so while the downtrend is strong, it could remain limited.