Bitcoin nearly loses $59K as DXY surges: Are traders bracing for more pain?

60-second summary

Bitcoin is plummeting toward new 2026 lows, trading near $59,000 as the US Dollar Index surges, weighing on market sentiment. Spot BTC ETF outflows and slowing accumulation from strategic investors are contributing to the decline. Traders are bracing for more pain as Bitcoin's price continues to drop, potentially exacerbating the market's current downturn.