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Bitcoin drops 5% to $59,018, triggering $237M in long liquidations amid market sell-off.

Market News
24 Jun 2026
Bitcoin
View Source
Bearish
pluang ai news

Bitcoin fell 5% to a new year-to-date low of $59,018 on June 24, continuing a downward trend that has seen it lose over 30% since the start of the year. This drop caused $237 million in long leveraged positions to be liquidated within four hours, with the broader crypto market cap falling to $2.15 trillion. Analysts warn that if bitcoin falls below $58,000, an additional $1.6 billion in long bets could be wiped out, potentially marking a major market capitulation and setting the stage for a trend reversal. Investors are closely watching the June 30 window for signs of bitcoin's next major move.

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Major cryptocurrencies including Bitcoin and Ethereum drop over 4% amid market sell-off.

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