The price of Bitcoin has fallen below $60,000. This is the third time since the start of the year that the price has dropped below this level. The current price is less than half of the all-time high of $126,000 reached in October 2025.
Following previous declines in February and early June, Bitcoin rebounded by 10–30% from its local lows, but then resumed its downward trend, according to RBC.
For example, after hitting a new 2026 low of $59,000 on June 5, Bitcoin quickly began to rebound, and by mid-month the price had recovered to $67,000, only to start falling again. The current price is 20% lower than the levels seen on June 1.
Earlier this morning, Bitcoin was trading above $63,000, but after 3:30 p.m. Moscow time, the market entered a sharp decline that lasted several hours in a row. At the time of publication, the lowest BTC price was $59,622 against the USDT stablecoin on Binance, the largest crypto exchange.
According to Coinglass, which tracks liquidations of leveraged trading positions on major crypto exchanges, traders who had bet on Bitcoin’s rise saw their long positions worth approximately $100 million closed at a loss within a single hour. The largest single liquidation occurred on Binance, amounting to $12 million.
According to CoinMarketCap, all of the top 100 cryptocurrencies are trading in the red over the past 24 hours and in the hour since Bitcoin’s decline began. The crypto market capitalization has fallen from $2.15 trillion to $2.04 trillion in less than a day.
