BTC, ETH Slump
Bitcoin and Ethereum prices fall as inflation concerns and potential rate hikes weigh on investor sentiment
The cryptocurrency market meltdown continued on Thursday as fears of rising inflation and potential rate hikes weighed on investor sentiment Cryptocurrency 24-Hour Gains +/- Price (Recorded at 9:35 p.m.
EDT) Bitcoin (CRYPTO: BTC) -2.45% $59,273.96 Ethereum (CRYPTO: ETH) -3.68% $1,558.39 XRP (CRYPTO: XRP) -4.04% $1.02 Solana (CRYPTO: SOL) -0.71% $67.16 Dogecoin (CRYPTO: DOGE) -3.11% $0.07384 Crypto Market Turns Bloody Red Bitcoin’s descent showed no signs of slowing down, as the apex cryptocurrency fell below $59,000.
Ethereum plummeted to an intraday low of $1,531, while XRP and Dogecoin extended their losses.
Cryptocurrency-related stocks were sent crashing down, with Strategy Inc. (NASDAQ: MSTR ) and Bitmine Immersion Technologies Inc. (NYSE: BMNR ) closing down 9.44% and 4.99%, respectively.
Over $890 million was liquidated from the cryptocurrency market in the last 24 hours, with long position traders bearing the brunt of the losses, according to Coinglass data Bitcoin’s open interest rose 0.38% over the last 24 hours, in contrast to the spot price dip, a move that often points to fresh short interest entering the market.
Top Gainers (24 Hours) Cryptocurrency (Market Cap>$100 M) Gains +/- Price (Recorded at 9:35 p.m.
EDT) MemeCore (M) +50.90% $0.8646 Data Network (DATA) +27.34% $0.4140 Audiera (BEAT) +24.38% $2.13 The global cryptocurrency market capitalization stood at $2.09 trillion, following a drop of 2.22% over the last 24 hours.
Read Also: Bitcoin May Be Undervalued, But AI Remains The Biggest Opportunity, Grayscale Exec Says Stocks Sink Lower As Inflation Worries Mount Major indexes closed further down on Thursday.
The S&P 500 slid 0.01% to 7,357.49, while the tech-focused Nasdaq Composite dropped 0.46% to settle at 25,358.60.
The Dow Jones Industrial Average bucked the decline, rallying 71.72 points, or 0.14%, to close at 51,920.62.
The headline Personal Consumption Expenditure price index, considered the Federal Reserve’s preferred inflation gauge, reached a 3-year high of 4.1% in May, as energy price pressures continued to spread through the broader economy.
The CME Group’s FedWatch tool showed traders pricing a 48% chance of the Fed increasing rates during the September meeting.
Will Bitcoin See A Relief Rally In July? Rekt Capital, a popular cryptocurrency chartist, reiterated a historical Bitcoin summer pattern: a red June close, followed by a potential post-breakdown relief rally in July.
The analyst drew parallels with 2022-like macro conditions, where any July relief rally would likely face resistance at the 50-month exponential moving average, currently around $63,000. #BTC This is still the game plan for the rest of the Summer Once June Monthly Closes, we'll know from which price July will be able to potentially spring into a post-breakdown relief rally Macro-wise, this is still looking very 2022-esque whereby any relief would see the… pic.twitter.com/JijHqElTNH — Rekt Capital (@rektcapital) June 25, 2026 Ali Martinez, a widely followed cryptocurrency analyst and trader, highlighted that Ethereum is in a “crucial” block between $1,584 and $1,683, where nearly 4 million tokens traded. “Securing this specific area as support opens the path to the next major supply clusters at $1,980 and $2,079,” the analyst said. “However, losing this baseline risks a deeper breakdown toward the demand zones at $1,237 or even $1,089.” ETHEREUM: $2,000 OR $1,000 FIRST? $ETH is trading inside a crucial volume block between $1,584 and $1,683, where nearly 4 million tokens have changed hands.
Securing this specific area as support opens the path to the next major supply clusters at $1,980 and $2,079.
However,… pic.twitter.com/ob6MbZGrt3 — Ali Charts (@alicharts) June 25, 2026 Read Also: Crypto May Get Direct Access To The Fed's Payment System—But That's Not Necessarily Bullish Photo: jira pliankharom / Shutterstock