🚨 Bitcoin Retests June Low as $850M Liquidations Shake Crypto Market
Bitcoin plunged below $60,000 for the second time this month, triggering more than $850 million in crypto liquidations and intensifying selling pressure across the broader digital asset market. The sharp decline has also weighed heavily on crypto-related stocks and ETF sentiment.
🔹 Key Facts:
• BTC dropped to an intraday low of $59,175, before stabilizing near $59,500, while over $780 million of liquidated positions came from longs.
• Technical indicators show Bitcoin revisiting a major support zone near $59,200, which aligns with June lows and the 0.786 Fibonacci retracement level watched by traders.
• Ethereum fell below $1,600, XRP traded near $1.05, and crypto-linked equities, including Strategy (MSTR), declined sharply, with MSTR dropping as much as 11% intraday.
• U.S. spot Bitcoin ETFs reportedly recorded approximately $180 million in net outflows, adding to concerns about weakening institutional demand.
💡 Expert Insight:
This selloff appears to be driven primarily by a liquidation cascade and demand slowdown rather than a structural breakdown in Bitcoin's long-term thesis. The $59,200–$60,000 range is now a critical battlefield for bulls. Losing that zone could invite further downside, while a successful defense may trigger a relief rally.
📊 Market Impact:
🔴 Short-term: Bearish
🟡 Medium-term: Highly volatile, support test underway
🟢 Long-term: Bullish structure remains intact if institutional demand returns and BTC reclaims higher levels.
#bitcoin #CryptoNews #Liquidations #CryptoMarket #ETF $BTC
Bitcoin plunged below $60,000 for the second time this month, triggering more than $850 million in crypto liquidations and intensifying selling pressure across the broader digital asset market. The sharp decline has also weighed heavily on crypto-related stocks and ETF sentiment.
🔹 Key Facts:
• BTC dropped to an intraday low of $59,175, before stabilizing near $59,500, while over $780 million of liquidated positions came from longs.
• Technical indicators show Bitcoin revisiting a major support zone near $59,200, which aligns with June lows and the 0.786 Fibonacci retracement level watched by traders.
• Ethereum fell below $1,600, XRP traded near $1.05, and crypto-linked equities, including Strategy (MSTR), declined sharply, with MSTR dropping as much as 11% intraday.
• U.S. spot Bitcoin ETFs reportedly recorded approximately $180 million in net outflows, adding to concerns about weakening institutional demand.
💡 Expert Insight:
This selloff appears to be driven primarily by a liquidation cascade and demand slowdown rather than a structural breakdown in Bitcoin's long-term thesis. The $59,200–$60,000 range is now a critical battlefield for bulls. Losing that zone could invite further downside, while a successful defense may trigger a relief rally.
📊 Market Impact:
🔴 Short-term: Bearish
🟡 Medium-term: Highly volatile, support test underway
🟢 Long-term: Bullish structure remains intact if institutional demand returns and BTC reclaims higher levels.
#bitcoin #CryptoNews #Liquidations #CryptoMarket #ETF $BTC