Bitcoin Falls Below $60,000

Bitcoin has fallen below $60,000, triggering a wave of liquidations that exceeded $1 billion across the crypto market.

Cryptocurrency Ticker Price Bitcoin (CRYPTO: BTC) $59,455 Ethereum (CRYPTO: ETH) $1,566 Solana (CRYPTO: SOL) $66.63 XRP (CRYPTO: XRP) $1.04 Dogecoin (CRYPTO: DOGE) $0.07446 Shiba Inu (CRYPTO: SHIB) $0.0 5 4277 Notable Statistics: Coinglass data shows 148,895 traders were liquidated in the past 24 hours for $1.08 billion.

SoSoValue data shows net outflows of $469.08 million from spot Bitcoin ETFs on Wednesday.

Spot Ethereum ETFs saw net outflows of $30.2 million.

In the past 24 hours, top losers include MemeCore, Mantle and Pump.fun.

Notable Developments: Crypto May Get Direct Access To The Fed’s Payment System—But That’s Not Necessarily Bullish Bitcoin May Be Undervalued, But AI Remains The Biggest Opportunity, Grayscale Exec Says Michael Saylor’s MSTR Plunges 20% Since Monday Open: What Is Going On? Bitcoin Loses $60,000: Where Is The Bottom For BTC? Bitcoin Recovers To $61,000, But Here’s Why Friday’s Options Expiry Looms Large Ripple Launches RLUSD In Japan, But XRP Still Plummets Below $1.10: What Is Going On? Trader Notes: Trader Jelle warned that Bitcoin is approaching a key technical level, saying, "Bears are knocking on a door bulls would rather not see opened," suggesting that a break below current support could trigger further downside pressure for BTC.

Luke Martin noted that Bitcoin has historically turned the previous cycle’s peak into support during the following bull market, a pattern seen since the 2013 top around $150–$200, which became the 2015 bear-market floor.

He said the current retest feels different because of concerns surrounding Michael Saylor and Strategy, leaving the market at a critical “sink or swim” moment.

Byzantine General said Bitcoin’s drop to $58,000 swept liquidity and triggered a wave of long liquidations while attracting fresh short positions.

He added that a daily close above $60,000 would likely confirm that BTC established a local bottom.

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