Bitcoin Falls Below $60,000 as Crypto Liquidations Top $1.2 Billion
Bitcoin slid to roughly $58,000 on Thursday, marking its lowest level since September 2024 and triggering more than $1.2 billion in crypto liquidations over the past day. The selloff pushed the price down nearly 50% from its October all-time high, driven by broader macro stress after the latest US personal consumption expenditures (PCE) inflation report registered at 4.1%, a three-year high. Trading data showed the cryptocurrency briefly dipped below $59,000 before falling further, wiping approximately $40 billion from the digital asset market cap.
Leveraged positions took the brunt of the decline, with CoinGlass data indicating $906 million of longs were liquidated within 24 hours as Bitcoin's taker sell volume surged to $2.07 billion in a single hour. The breakdown below the $60,000 threshold also set new highs in unrealized losses; Glassnode data showed 10.83 million coins were being held at a loss, matching the depth of carry losses seen during market cycle bottoms in 2019, 2020, and 2022. Specifically, long-term holders are now carrying 5.6 million BTC at a loss, representing a stress level comparable to the March 2020 pandemic crash.
From the sources (25 posts)
@laurashin1/ Strategy's STRC Bitcoin-backed preferred stock can't seem to find its way back to its par value of $100. A Bitcoin rebound surprisingly did not help. Strategy's move to bi-monthly dividend payment cycle has not helped and neither has th
@laurashinI sat down with @ColeMacro of @Strive after he called last week the most difficult in digital credit's history. 📉 He argues the STRC drop was a leverage liquidation, not a broken model. I pushed him on whether the critics of Strategy are
@saylorRT @ColeMacro: I was on @BloombergTV today discussing the problem Digital Credit is built to solve. Even with recent volatility, $SATA is…
@saylorDigital Credit is income for investors who believe in Bitcoin. $STRC
@bulltheoryioBREAKING: Michael Saylor's $MSTR hit $103 yesterday, a new 23 month low. It is now down -81% from its all time high and has wiped out $153 billion from its market cap. Strategy holds 847,363 Bitcoin worth $53 billion at current prices. Th
@deitaoneBITCOIN DROP COULD PRESSURE STRATEGY Strategy’s $53 billion Bitcoin holdings currently cover its financing costs, but a deeper Bitcoin decline could make funding more difficult. Analysts estimate that if Bitcoin falls to $30,000, Strategy
@laurashinRT @laurashin: 1/ Strategy's STRC Bitcoin-backed preferred stock can't seem to find its way back to its par value of $100. A Bitcoin rebou…
@degeneratenewsBREAKING: $MSTR (@Strategy) DROPS BELOW $100
@bulltheoryioBREAKING: $STRC just crashed to $84. Despite constant dilution of $MSTR shareholders, STRC isn't going anywhere near its $100 peak and just keeps sliding lower. This means one of two things. 1. Either the market expects Saylor to sell a
@wublockchainStrategy Shares Fall Below $100 for First Time Since March 2024 According to market data, Strategy (MSTR) fell below $100 and was trading at $99.50, down 4.18% intraday, marking its first drop below $100 since March 2024. Strategy is curre
@thelonginvest$MSTR is now below $100
@bulltheoryioBREAKING: $STRC just crashed to $84. Despite constant dilution of $MSTR shareholders, STRC isn't going anywhere near its $100 peak and just keeps sliding lower. This means one of two things. 1. Either the market expects Saylor to sell a
@theblockcoTHE BLOCK: Strategy’s $MSTR stock has fallen below $100 for the first time since March 2024.
@tftc21Strategy ($MSTR) just fell below $100 for the first time since March 2024. Down more than 80% from its November 2024 peak of ~$474. The company holds 847,363 BTC at an average cost of ~$75,646 per coin. With bitcoin at ~$62,000, that's an
@scottmelkerJUST NOW: $MSTR DROPS BELOW $100
@deitaone$MSTR - STRATEGY FACES GROWING BITCOIN PRESSURE Falling Bitcoin prices are increasing pressure on Strategy’s finances, with its cash reserves shrinking while dividend obligations continue to rise. Analysts warn the company may face tough
@fintechfrankRT @slatersanter: MSTR is trading below $100 for the first time since 2024.
@bitcoinmagazineJUST IN: Bitcoin drops to $59,765 👀
@cointelegraph🚨 JUST IN: Bitcoin has fallen below the $60,000.
@coinmarketcap🚨 $BTC dips below 60K❗
@coingeckoNOW: Bitcoin falls under $60,000.
@coindeskBREAKING: bitcoin:native falls below $60K .
@degeneratenewsBREAKING: $BTC DROPS BELOW $60K
@bitcoinnews🔻 #Bitcoin sinks to $59,550
@arkhamBitcoin has just broken below $60,000 for the third time this year.