Bitcoin’s Fall Below $60,000 Triggers Liquidation Cascade, Wiping Out More Than $1.5 Billion in 24 Hours

US Labor Department data showed that nonfarm payrolls rose far less than the market expected in June, easing investor concerns that the Federal Reserve would maintain tight monetary policy. Such a shift in interest-rate expectations typically benefits risk assets and fueled demand for cryptocurrencies including Bitcoin and Ether.

After the data was released in July, Bitcoin briefly climbed above $62,000 to a new high for the month, while Ether topped $1,700. The sharp rally battered short sellers, with about 130,000 traders liquidated across the market within 24 hours. Liquidations exceeded $630 million, and the largest single liquidation reached $18.2 million.

Bitcoin and Ether are the crypto market’s two largest assets, and their prices often drive moves in altcoins and derivatives positions. Exchanges forcibly close highly leveraged contracts when their margin becomes insufficient, and cascading liquidations can deepen a decline. Liquidation totals therefore offer a gauge of market risk and investor sentiment.

In the early hours of June 10, 2026, Taipei time, Bitcoin broke below the $63,000 support level and fell through $61,000, while Ether tested $1,600. CoinGlass data showed that more than 120,000 traders were liquidated over 24 hours, with total liquidations reaching $380 million and the largest single order on Binance totaling $8.05 million. By June 25, BTC had fallen below $60,000 again, with liquidations exceeding $650 million and nearly 140,000 traders affected.

Bitcoin’s latest pullback extended losses triggered by the U.S. Federal Reserve’s hawkish policy stance. The Fed’s abandonment of forward guidance deepened concerns that high interest rates would persist. A simultaneous selloff in technology stocks and continued net outflows from spot cryptocurrency ETFs also weighed on risk assets, while a market sentiment gauge fell into extreme-fear territory.

In the early hours of July 20, Bitcoin briefly fell below $59,100 and traded as low as around $59,297 intraday. Cryptocurrency liquidations totaled $988 million over the previous 24 hours, with long positions accounting for about 80%, indicating concentrated liquidations among leveraged bulls. The Crypto Fear and Greed Index also dropped to 12.

Bitcoin came under pressure this week from record outflows from spot ETFs and Strategy’s first sale of the cryptocurrency since 2022. A strong U.S. nonfarm payrolls report on June 5 prompted markets to bet on a Federal Reserve interest-rate increase by the end of 2026. The two-year U.S. Treasury yield rose to 4.16%, while a stronger dollar sparked a selloff in risk assets.

In early Asian trading on Saturday, June 6, Bitcoin rebounded by more than $1,500 from an overnight low of $59,227 to return to around $61,000. CoinGlass data showed that about 308,000 traders had $1.6 billion in positions liquidated over 24 hours, including $1.21 billion in long positions. Bitcoin and Ether liquidations totaled $534 million and $423 million, respectively.

Bitcoin and the broader cryptocurrency market rely heavily on leveraged capital. When prices fall sharply, exchanges forcibly close positions with insufficient margin, amplifying the decline. The latest selling came ahead of the U.S. Federal Reserve’s interest-rate decision as risk aversion intensified. Consecutive net outflows from spot Bitcoin ETFs and MicroStrategy’s first Bitcoin sale also undermined investor confidence.

Bitcoin fell below $67,000 early on June 3 and briefly touched $66,316, pulling Ether, Solana, Dogecoin and other major cryptocurrencies lower. Marketwide liquidations reached $1.78 billion over 24 hours, with long positions accounting for about 90%. The concentrated unwinding of leveraged bullish bets sent market anxiety sharply higher.

Bitcoin's latest decline was triggered by an escalation in the war involving Iran, new U.S. government tariff policies and a stronger yen, with risk assets coming under pressure across the board. The cryptocurrency market has lost about $2 trillion in value, reflecting a marked retreat in capital and liquidity. The $60,000 level is both a technical support zone and a key psychological threshold, making it central to whether the selloff deepens.

Bitcoin recently fell below $65,025, initially triggering more than $430 million in long liquidations. As the price moved closer to $60,000, long liquidations swelled to more than $600 million. Crypto liquidations across the market exceeded $1.1 billion at one point over 24 hours, affecting nearly 200,000 traders. Traders had estimated a 53% chance that Bitcoin would fall below $66,000 by April 24, while the market also saw about $1 billion in put-option bets at the $60,000 level.

Bitcoin is the largest cryptocurrency by market capitalization, and sharp price declines often force exchanges to liquidate highly leveraged positions, with the impact spreading to tokens such as Ether. After BTC fell below $69,000, the market is also watching whether its 200-week moving average will hold. If that support breaks, analysts’ downside target of $50,000 could come into focus.

Bitcoin fell about 6% in a single day over the weekend, briefly approaching $68,000. In the latest 24-hour period cited as of July 20, 2026, crypto liquidations across the market neared $400 million, including about $300 million in bullish long positions. Although a golden cross on the daily chart could provide near-term support, a recovery above $69,000 remains crucial.

Bitcoin fell below $80,000 as markets reassessed the Federal Reserve's rate-cut timetable after U.S. consumer inflation reached 3.8% year on year. Persistently high interest rates weigh on valuations for riskier assets, while concentrated leverage in crypto markets can trigger cascading forced liquidations when prices fall sharply.

On the day the CPI data was released, Bitcoin briefly slid to $79,400, later breaking below $79,000 and at one point plunging to $76,000. Ether also fell below $2,100. The initial selloff liquidated positions held by more than 100,000 traders, totaling over $320 million; liquidations subsequently climbed to $840 million over 24 hours.

Bitcoin’s move above $80,000 reflected a rapid return of capital to the crypto market and triggered a short squeeze. When prices rise against bearish positions, exchanges forcibly close shorts with insufficient margin, adding further upward pressure. Market maker Wintermute warned, however, that spot trading volume had fallen to a two-year low and that the risk-reward profile at current prices was unattractive.

Bitcoin briefly touched $80,594 on Monday before climbing as high as $81,640, its highest level in about half a month. Market-wide liquidations exceeded $370 million over the previous 24 hours, with some estimates putting the total at $387 million and the number of affected traders at about 100,000. Shorts accounted for about 81%, with more than $300 million liquidated. One whale continued to hold a short position despite unrealized losses of about $13 million.

Bitcoin recently fell below the psychological support level of $80,000, reflecting pressure on risk assets in a high-interest-rate environment. Nonfarm payrolls data released by the US Bureau of Labor Statistics will shape market expectations for the Federal Reserve's rate-cut timeline, making the report an important basis for repricing cryptocurrency investments.

The latest liquidation heat map showed heavy concentrations of leveraged long and short positions between $78,000 and $83,000. A rapid move beyond either boundary could trigger cascading liquidations. Markets are awaiting the US April nonfarm payrolls report for clues about the Fed's interest-rate path and Bitcoin's near-term direction.