EL7.AI
CryptoMedium•25 June 2026•
1 min read

Bitcoin Slides Nearly 20% in June, Hits Yearly Low at $58,035 as $715M Longs Liquidated

Key Facts

1Bitcoin briefly dropped to a year-to-date low of $58,035 before recovering to around $59,500.
2$715 million in crypto long bets were liquidated during the decline.

In a sharp sell-off that rocked the crypto market, Bitcoin dropped nearly 20% in June to touch a year-to-date low of $58,035 before recovering to around $59,500, according to reports. The decline was accompanied by forced liquidations of $715 million in long positions, amplifying selling pressure and accelerating the cascade.

The slide comes amid heightened global market volatility driven by expectations of tighter Federal Reserve monetary policy. The cryptocurrency continues to face headwinds as risk appetite wanes among investors.

On the technical front, Bitcoin is trading near its yearly low, making the $58,000 support level critical for any potential bounce. Traders are watching upcoming economic events such as the Fed Waller speech (June 22) and Canadian inflation data that could sway sentiment. A break below support could extend losses toward $55,000, while recovery requires a break above resistance at $62,000.