As June comes to a close, Bitcoin has fallen to its lowest levels since 2024. We explore the performance of altcoins and the factors contributing to the decline of BTC▲$62,630.00.
Between June 24-25, 2026, Bitcoin (BTC) saw a slump to $59,023, the lowest price since October 10, 2024. At the time of writing, it has made a slight recovery, reaching about $61,800, reducing the daily loss to just over 1%.
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What Caused the BTC Price Drop to $59K on June 25?
The outflow from U.S. Bitcoin spot ETFs increased significantly from $113.8 million to $469 million within a 24-hour period. Negative outflows have been ongoing for seven consecutive weeks. Overall assets under management have decreased to $77.5 billion, down from nearly $113 billion at the close of 2025. ETF providers are compelled to offload actual Bitcoin in the market, elevating supply while demand remains weak.
As reported by Santiment, wallets holding between 10 and 10,000 BTC sold 45,074 BTC in the last week. CryptoQuant also noted a $1.06 billion rise in negative CVD on Binance, accompanied by increasing open interest, indicating a rise in leveraged bearish positions.
Additional pressures stem from the anticipation of a Federal Reserve rate hike in September, with investment banks suggesting the possibility of three increases this year. A stronger U.S. dollar poses challenges for riskier assets.
A significant procedural vote regarding the CLARITY Act is anticipated in the next five weeks, ahead of Congress’s recess. Any delay until later this fall could eliminate an important regulatory catalyst for the crypto space.
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Other Digital Currencies: Ethereum Below $1,600 and Altcoins Dropping
Ethereum (ETH) fell to $1,600 but later rebounded to approximately $1,650 as of the publication. Although the 24-hour decline stands at 1%, the asset has seen a 5% drop over the week.
Among the top 10 cryptocurrencies, Hyperliquid (HYPE▲$70.78) was the performer of the day, up over 3%. Bitcoin, however, recorded the highest loss in the last 24 hours, declining by 1.3%. In weekly performance, Tron (TRX) led the pack with a 3% weekly gain, while Hyperliquid (HYPE) suffered the most, down nearly 7.5%.
In the top 100, Aave (AAVE▲$87.37) topped the daily gainers with an increase of over 14%. On the other hand, MemeCore (M) was the worst performer, plunging almost 76% within 24 hours.
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General Crypto Market: $1B in Liquidations and Investors in Fear
Almost $1 billion in trades have been liquidated in the crypto market during the last 24 hours, with over $780 million stemming from long positions and around $212 million from shorts. Bitcoin liquidations exceeded $413 million, while Ethereum endured liquidations amounting to over $226 million.
The liquidation chart indicates a concentration of $1.6 billion in long positions at risk below the $58,000 mark, which, if breached, could accelerate the decline.
The Crypto Fear and Greed Index plummeted from 17 to 12, entering the “extreme fear” zone.
A key highlight for today will be the US GDP and PCE data release scheduled for 12:30 UTC. Stronger-than-expected results could reinforce tightening expectations, while weaker outcomes might provide support for crypto. QCP Capital remarked that the options market remains skeptical about a single impetus pushing prices beyond current ranges—an alignment of both macroeconomic trends and crypto-specific factors is essential.
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