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CryptoMediumUpdated•Originally published 25 June 2026•Updated 27 June 2026•
1 min read

Bitcoin Plunges to $59,000, Triggers $1B Crypto Liquidation

A Bitcoin coin being crushed by a metal press on a base labeled $1B, set against an orange chart background.

Key Facts

1Bitcoin fell below $60,000 to $59,000, triggering over $1 billion in crypto liquidations ahead of a roughly $10 billion options expiry.

Amid intensifying pressure in crypto markets, Bitcoin collapsed below the $60,000 threshold to $59,000, according to Benzinga reports. The sharp drop triggered over $1 billion in liquidations across cryptocurrencies, including Ethereum, XRP, and Dogecoin. The moves came ahead of a roughly $10 billion options expiry, which is believed to have amplified selling pressure.

Data shows that large options expiries typically increase volatility as traders rush to close positions. The sell-off arrives at a time of declining sentiment in crypto, with growing regulatory concerns and rising interest rates. According to market data, major coins like Ethereum and XRP also suffered steep declines, adding to total liquidations.

Attention now turns to broader financial market developments, with traders watching Fed Governor Waller's speech scheduled for June 22, along with U.S. inflation data. These factors could influence risk appetite and investor positioning toward digital assets. In the near term, Bitcoin may face further pressure if it breaches support near $58,000.