Bitcoin Slides Toward Key Trendline as Record June ETF Outflows Raise $42,000 Risk

Bitcoin (BTC) is sliding toward a make-or-break trendline as July opens, with chart signals pointing to deeper downside after a roughly 19% June drop and BTC trading near $59,500. According to BeInCrypto, a three-day head-and-shoulders pattern implies about 26% downside if the neckline breaks, while the exchange whale ratio hit a local high near 0.69 and US spot Bitcoin ETF outflows reached about $4.06 billion in June, a record since launch. BeInCrypto said a close under $55,298 would confirm the breakdown, with $52,458 and $48,413 below and a measured target near $42,000; reclaiming $61,654 and $67,335 would invalidate the setup.