Bitcoin dropped below $60,000 on June 25 after U.S. economic reports showed persistent inflation and firm growth. The move triggered nearly $1 billion in liquidations across crypto derivatives.
Bitcoin fell sharply during U.S. trading hours on June 25, touching lows near $58,000 before a partial recovery. The decline coincided with May personal income and PCE data that showed income rising 0.7 percent and core PCE up 0.3 percent month over month.
Traders faced heavy long liquidations, with reports citing roughly $427 million to $781 million in forced closures within hours. Spot selling and ETF outflows added pressure as the price moved below the round-number level.
The dollar index climbed above 101 and Treasury yields rose, reflecting reduced expectations for near-term Federal Reserve rate cuts. Bitcoin traded around $59,500 to $61,650 by late in the session.
Market participants now watch options expiry and further macro releases for signs of stabilization or additional downside.
