• Bitcoin trades above $58,000, failing to recover from Sunday's 3.6% decline.
• Exchange-traded funds (ETFs) tracking Bitcoin listed in the US recorded 160.10 million outflows last week
• On-chain chain data shows negative signs for BTC, signaling a bearish trend ahead.

Bitcoin (BTC) is trading slightly above $58,000 on Monday after failing to recover from a 3.6% decline on Sunday. Last week, exchange-traded funds (ETFs) tracking Bitcoin in the US experienced average outflows of $160.10 million, while on-chain data indicates negative signals, suggesting a bearish trend ahead.