Bitcoin Bounces After ETF Outflows, Binance Exits EU Under MiCA Crackdown

Bitcoin clawed back above $60,000 on Friday after touching an intraday low of $58,189 on June 26, its weakest level since September 2024. The partial recovery came even as the broader market absorbed more than $1.1 billion in leveraged position liquidations and braced for a looming $10.6 billion quarterly options expiry, according to CoinDesk. Ethereum slipped further on the week, falling roughly 8%, while XRP and Solana also posted steep losses as traders rotated out of risk assets.

The price action unfolded against a backdrop of persistent institutional selling. U.S. spot Bitcoin ETFs recorded a seventh consecutive day of net outflows on June 26, shedding $445 million in a single session, while Ethereum ETF counterparts lost an additional $12.8 million, according to Blockchain Reporter. Total Bitcoin ETF assets under management have now shrunk to roughly $77.5 billion, down from nearly $113 billion at the close of 2025, as seven straight weeks of negative flows have forced ETF issuers to sell physical Bitcoin on the open market, amplifying supply pressure.

Binance Fights for European Foothold as MiCA Clock Runs Out

On the regulatory front, Binance confirmed it will no longer provide services to European Union users after failing to secure a Markets in Crypto-Assets license, having withdrawn its MiCA application in Greece. The exchange told clients it intends to pursue alternative pathways to maintain an EU presence and will launch a fresh regulatory push, even as its existing license bid collapsed. The development signals how the EU's sweeping crypto framework is beginning to reshape which global exchanges can legally operate in the bloc.

Separately, the U.S. Senate passed the 21st Century Road to Housing Act, which included a provision banning the Federal Reserve from issuing a retail central bank digital currency through 2030. The measure would carve out space for open, permissionless private dollar assets such as stablecoins while preventing the Fed from moving into retail digital money without congressional approval. President Donald Trump then declined to sign the bill, saying he will withhold his signature until Congress passes the SAVE America Act, leaving the CBDC ban in legislative limbo for now.