BTC, ETH Drop

Leading cryptocurrencies cracked alongside stocks on Tuesday, after a sharp decline in chip-related stocks cast doubts on the sustainability of the AI rally.

Cryptocurrency 24-Hour Gains +/- Price (Recorded at 9:25 p.m.

EDT) Bitcoin (CRYPTO: BTC) -2.01% $62,818.32 Ethereum (CRYPTO: ETH)                 -3.58% $1,668.90 XRP (CRYPTO: XRP)                             -1.98% $1.10 Solana (CRYPTO: SOL)                             -2.83% $69.91 Dogecoin (CRYPTO: DOGE)               -4.24% $0.07900 Crypto Market Sinks Deeper Bitcoin dropped below $62,000 amid heavy selling, while Ethereum bulls failed to defend the support at $1,700.

XRP and Dogecoin recorded sharp declines as well.

Cryptocurrency-related stocks also tumbled, with Strategy Inc. (NASDAQ: MSTR ) and Bitmine Immersion Technologies Inc. (NYSE: BMNR ) closing down 5.73% and 4.60%, respectively.  Over $560 million was liquidated from the cryptocurrency market in the last 24 hours, with $490 million in bullish long positions wiped out, according to Coinglass data.

Roughly $350 million in Bitcoin longs were at risk of liquidation if the price dropped to $60,000.

Bitcoin’s open interest fell 1.39% over the last 24 hours.

Whale and retail derivatives traders, meanwhile, bought the dip, adding more long exposure to BTC.

Top Gainers (24 Hours)  Cryptocurrency (Market Cap>$100 M) Gains +/- Price (Recorded at 9:25 p.m.

EDT) Audiera (BEAT)       +39.90%     $2.32 Bitway (BTW)                     +26.21%     $0.1064 dYdX (DYDX)               +14.77%     $0.1526 The global cryptocurrency market capitalization stood at $2.15 trillion, following a decline of 1.63% from the previous day.

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The Dow Jones Industrial Average fell 45.87 points, or 0.09%, to close at 51,666.84.

The S&P 500  slid 1.44% to end at 7,365.46, while the tech-focused Nasdaq Composite declined 2.21% to close at 25,587.04.

Semiconductor stocks precipitated the decline.

The sell-off began overseas and later hit U.S. stocks , with Micron Technology Inc.   (NASDAQ: MU ) falling over 13% as investors questioned whether the AI rally had overextended.

Why This Support Is Significant For BTC Ali Martinez , a widely followed cryptocurrency analyst and trader, said that Bitcoin must hold the support at $60,587 to “maintain the current trend.” Citing on-chain data, the analyst highlighted the $60,000–$63,000 range as one of the largest volume clusters, where over one million BTC changed hands.

BITCOIN: THE MOST IMPORTANT LEVEL On-chain data shows that over 1.3 million $BTC were transacted between $60,000 to $63,000, making it the largest volume cluster.

Immediate support at $60,587 must hold to maintain the current trend.

A break below it opens a path to $46,702,… pic.twitter.com/P9dDcS4irB — Ali Charts (@alicharts) June 23, 2026 Michaël van de Poppe , another well-known cryptocurrency commentator, stated that Ethereum is currently stuck in the middle and needs to break above $1,800 to “regain momentum.” “If the markets break back into that range, it can move quickly to $2,500+,” Van De Poppe said. “Other than that, it’s very likely to see retests at $1,385 and/or $1,505.” $ETH is nicely stuck in the middle.

No breakthrough above $1,800 is not a signal for continuation upwards.

Similar to #Bitcoin at $66,000, it needs to break this level to regain momentum.

If the markets break back into that range, it can move quickly to $2,500+.

Other than… pic.twitter.com/BECn0ZoeNO — Michaël van de Poppe (@CryptoMichNL) June 23, 2026 Read Also: Bitcoin Could Be The Biggest Winner After The AI Bubble Pops, Arthur Hayes Says Photo: Memory Stockphoto / Shutterstock