Bitcoin News
By Evie Vavasseur
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Fed Holds Firm, Traders Rethink Everything. Under Chair Kevin Warsh, the Federal Reserve held its benchmark rate between 3.5% and 3.
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$1.26 Billion Gone in 24 Hours. Total crypto liquidations hit $1.26 billion across more than 209,000 traders in the 24-hour…
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What Traders Are Watching Now. The July Fed meeting is the next real catalyst. If policymakers signal any openness to cuts — or…
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Bitcoin got crushed Thursday. The price slid to around $58,000 — its lowest print since September 2024 — after U.S.
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The trigger was the Personal Consumption Expenditures price index, the Federal Reserve's preferred inflation gauge. PCE jumped 4.
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Bitcoin was trading above $61,800 earlier Thursday. The drop picked up momentum through the session and the coin was hovering near $59,200, down 2.
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Over $450 million in leveraged long positions got liquidated in roughly an hour. That's not a slow bleed — that's a cascade.
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And it wasn't just crypto. The Nasdaq 100 also reversed intraday gains and sold off, mirroring a broader tech selloff that had already dragged Bitcoin lower earlier in June.
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See also: Bitcoin Drops to June Low as $1 Billion Liquidation Rocks Crypto Traders
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Bitcoin is now sitting approximately 53% below its October 2025 peak of $126,080. That's a significant drawdown by any measure.
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With inflation running hot and the economy growing faster than expected, policymakers have little reason to cut. That's the bind.
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The July Fed meeting is the next real catalyst. If policymakers signal any openness to cuts — or at least rule out hikes — that could stabilize things.
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Leveraged traders got a painful reminder Thursday of how fast things can move. More than $450 million gone in an hour isn't a statistic — it's accounts blown out, stops hit,…
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Bitcoin's drop also came at a moment when the market had been rebuilding some confidence after earlier June weakness. That recovery is now basically erased.
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More context: Bitcoin Drops Below $60,000 as Fed Rates and AI Spending Squeeze Crypto Capital
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