# Bitcoin hits fresh yearly low near $58,000 as crypto sell‑off deepens

**Published:** 2026-07-01T18:56:31.344Z  
**Topic:** Ripple Xrp  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/6b0736de-3807-4ec9-9a48-48cdedb6b105

Bitcoin slides to $58,115, a new 2026 low, with weekly losses over 7%; ETH and XRP also under pressure, signaling broader market weakness.

Bitcoin fell to $58,115 on Friday, marking its lowest price of the year and extending a weekly decline of more than 7% as bearish pressure grips the crypto market【3】. The drop matters because Bitcoin’s move often sets the tone for altcoins, and both Ethereum and Ripple are slipping further into downside zones.

| At a glance | |
|---|---|
| BTC price | $58,115 (fresh yearly low) |
| BTC weekly change | –7%+ |
| Key BTC support | $55,000 horizontal level |
| Catalyst | Broad selling pressure across top cryptos |
| ETH price | $1,550 (below key support) |
| XRP price | $1.91 (below 50‑day EMA) |

## Market pressure drives the slide  
The sell‑off is reflected across the top three cryptocurrencies. Bitcoin is trading well below its 50‑day, 100‑day and 200‑day EMAs ($67,863, $71,246 and $77,115 respectively), underscoring a bearish structural bias【3】. Ethereum has slipped beneath $1,550, breaking a key support level that had previously held the token above $1,600, while Ripple’s price sits at $1.91, a rejection from the 50‑day EMA at $2.04 and a decline of more than 8% since the weekend【2】【3】. Momentum indicators—RSI below 50 for both ETH and XRP and a bearish MACD crossover for BTC—reinforce the downward bias.

## Token‑specific context  
Ripple’s downside is compounded by a bearish medium‑term trend: its 50‑day and 200‑day moving averages remain above the current price, and institutional interest is waning, with Goldman Sachs having fully exited its XRP ETF position in Q1 after a $154 million holding【1】. Ethereum’s price action mirrors its earlier correction, where a daily resistance at $3,017 now sits well above the current $2,964 level, suggesting further downside toward the $2,749 Fibonacci zone【2】. Bitcoin’s broader market context includes a modest RSI lift to 30‑ish, hinting at oversold conditions, but a MACD that is still rolling lower, indicating that any short‑term bounce may be fragile【3】.

| Token | Current price | Key resistance | Key support |
|---|---|---|---|
| BTC | $58,115 | $64,004 (horizontal) | $55,000 |
| ETH | $1,550 | $3,017 (daily) | $2,749 (Fibonacci) |
| XRP | $1.91 | $2.04 (50‑day EMA) | $1.77 (Dec 19 low) |

## What to watch  
- **BTC:** Hold above $55,000 to avoid a deeper slide toward $50,000.  
- **ETH:** A close above $3,017 could revive the rally toward the 50‑day EMA at $3,135.  
- **XRP:** A clean break above $2.04 would signal a potential recovery; otherwise, a drop below $1.77 may trigger further selling.  

The significance lies in Bitcoin’s ability to anchor market sentiment; if it fails to reclaim the $55,000 support, the bearish momentum could push Ethereum and Ripple into deeper corrections, extending the current crypto downturn.

## Sources
1. 24/7 Wall St — [Ripple (XRP) Price Prediction: Can XRP Hit $2 Again in 2026?](https://247wallst.com/investing/2026/05/20/ripple-xrp-price-prediction-can-xrp-hit-2-again-in-2026/)
2. Mitrade — [Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC shows mild...](https://www.mitrade.com/au/insights/crypto/bitcoin/bitcoin-ethereum-ripple-price-prediction-gen-20260123)
3. Fxstreet — [Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC slides to...](https://www.fxstreet.com/cryptocurrencies/news/top-3-price-prediction-bitcoin-ethereum-ripple-btc-slides-to-a-fresh-yearly-low-eth-breaks-down-xrp-signals-more-losses-202606260415)

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Cite as: TrendWatcher, "Bitcoin hits fresh yearly low near $58,000 as crypto sell‑off deepens", https://www.trendwatcher.in/article/6b0736de-3807-4ec9-9a48-48cdedb6b105