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CryptoMedium•26 June 2026•

1 min read

Bitcoin Bounces from 2024 Low as $1B in Liquidations Clear

Key Facts

1Bitcoin dropped to $58,100, its lowest level since September 2024, before bouncing back to around $59,160.

2Over $1 billion in futures positions were liquidated in the last 24 hours, with longs taking the hardest hit.

3Bitcoin's implied volatility index BVIV jumped to 53%, its highest level since June 7.

In a continuation of tightening liquidity in cryptocurrency markets, Bitcoin dropped to $58,100 yesterday, its lowest level since September 2024, before quickly rebounding to around $59,160 according to specialized reports. The decline coincided with over $1 billion in futures position liquidations within 24 hours, with longs taking the hardest hit, signaling strong selling pressure in the market.

Bitcoin's implied volatility index (BVIV) jumped to 53%, its highest level since June 7, 2024, per data tracked by EL7.AI. This surge reflects high uncertainty among traders as the market approaches sensitive support levels. The move follows a period of sideways trading for Bitcoin, which had been oscillating between $60,000 and $70,000 since the start of the year, making the breach of $58,000 a serious reversal signal.

Bitcoin currently trades around $59,160 (close of June 26, 2026), with critical support at $58,100 and resistance near $60,000. No major crypto-specific catalysts are expected this week, but upcoming releases of Canadian inflation data and PMI readings in Europe and the US could influence global risk appetite. Analysts will focus on Bitcoin's ability to hold above $58,000 to avoid a broader sell-off.