Bitcoin has experienced significant volatility over the past week, with its price falling below the $60,000 mark for the first time since May. On June 24, Bitcoin's price dropped to around $58,500, resulting in over $500 million in realized losses. According to Glassnode data, short-term holders, those holding Bitcoin for less than 155 days, accounted for nearly all $537 million of the losses. This marks the third-largest loss for short-term holders in 2024. The cryptocurrency endured its sixth major correction since the FTX collapse, with a nearly 20% drop. Between June 23 and June 27, Bitcoin fell from above $64,000 to $60,000, briefly dipping below. Bitcoin's volatility also significantly impacted the derivatives market, with open interest in Bitcoin futures slumping and options open interest spiking. Bitcoin experienced an 8.2% decline over the past week.
#Bitcoin experienced a significant drop below $60,000 for the first time since May, with its value hitting a low of $59,809 amid heavy selling pressure and an 8.2% decline over the past week. @maplesyrupsuckr explains this market slide here ⬇️👀 https://t.co/WujyDh9RdU
📉 #Bitcoin's support is weakening below $60K, despite the latest U.S. #PCE data showing a three-year low in inflation. While PCE data was as expected, $BTC's price remains stagnant, hovering just above $60K. https://t.co/lD0YjOSX07
ICYMI: #Bitcoin volatility sees futures slump, while options open interest spikes Read the full article 👇 https://t.co/2WnBaXcAh7 https://t.co/EOaJINn3cy
Bitcoin's volatility this week significantly impacted the derivatives market. Between June 23 and June 27, BTC fell from above $64,000 to $60,000, briefly dipping below before recovering. This 6% drop, a key psychological milestone, led to open interest in Bitcoin futures… https://t.co/c2JSjtbe0H
ICYMI: #Bitcoin endures sixth major correction since FTX collapse, dropping nearly 20% Read the full article 👇 https://t.co/bOKZupPrFl https://t.co/Btg46i3ylI
Here's what's next for bitcoin after the cryptocurrency returned to $60,000 this week https://t.co/BSjvSsidxt
Also with US Gov FUD, Mt Gox FUD, most major airdrops finished, markets down, nvidia off highs, BTC has had every reason to go lower, and its still mostly held $60k. Negative news struggling to make a dent.
On June 24, Bitcoin's price fell below $60,000 to around $58,500, resulting in over $500 million in realized losses. According to Glassnode data, short-term holders (those holding Bitcoin for less than 155 days) accounted for nearly all $537 million of the losses, while… https://t.co/RQsAVpFJj0
ICYMI: STHs faced substantial losses as #Bitcoin briefly fell below $60k Read the full article 👇 https://t.co/X1MPpB38tF https://t.co/aoq9ZFy0S2
ICYMI: Short-term #Bitcoin holders’ sell-off leads to third-largest loss in 2024, totaling $537 million Read the full article 👇 https://t.co/4Mmnlm549Y https://t.co/5w9ZUYSjpw
#Bitcoin Struggles Against Bearish Market, Slides to Near $60K Level https://t.co/QTi3vqACqQ