Bitcoin Nearing $60K as Price Plummets

Bitcoin fell near $60K and is now placed in a position of extreme danger that could mean the loss of many long-term investors.

Written by: Timothy St. John • Thursday, June 25, 2026 • 2 min read

• Last updated: Thursday, June 25, 2026

The crypto market is slipping further, with Bitcoin dropping toward $60K.

Quick overview

Bitcoin is currently holding just above $61K after a recent drop below $60K, indicating high risk for investors.
The overall cryptocurrency market is experiencing downward pressure, with Bitcoin and other major coins like Ethereum and XRP losing value.
Market sentiment remains bearish, and upcoming inflation readings could further impact Bitcoin's price negatively.
If Bitcoin falls below $60K without a quick recovery, it may lead to significant selling by long-term investors.

Bitcoin (BTC) is holding the line just above $61K Thursday after falling below $60,000 and is in a dangerous spot that signals exceptional risk for investors.

Long-term investors may drop Bitcoin in droves if the coin falls further.

As the stock market rose on Thursday after a strong showing from Micron Technology in its quarterly report, cryptocurrencies continued to fall, with Bitcoin losing 1.89% and slipping to $61,152 (BTC/USD). Ethereum (ETH), BNB (BNB), and XRP (XRP) all dropped more than 1% for the day as well.

BTC/USD

Downward pressure pervaded the crypto market this week, pushing traders to sell and causing market sentiment to drop for Bitcoin and other tokens. The launch of the Nesa (NES) coin the previous day did little to boost interest in the wider market and has seemed to capture the attention of only the crypto faithful.

Bitcoin Momentum Still Looking Bearish

Bitcoin holders hoping for a breakout that pushed the coin much higher may have to wait a while longer. Most signals are pointing to a bearish outlook for the coin for now, and the upcoming inflation readings from the Personal Consumption Expenditures show a 0.7% increase for the headline index. That is good news for the crypto market, because it means that people are still spending money despite elevated inflation levels.

However, there are several other inflation readings still to come in the near future. These include the initial jobless claims and the Gross Domestic Product. If these are at all negative, they could push Bitcoin and the crypto market down further. The market sentiment is so poor at the moment that even relatively good news may not be enough to give the market a boost. Instead, bearish sentiment has taken over, and positive indicators simply slow the flow of loss temporarily.

Bitcoin was making upward progress early on in June, but then it changed course on June 16^th and has been trending bearish ever since. The market expects the coin to fall further before it begins to make back its losses, and a fall below $60K that it does not recover from quickly could be devastating. That may drive long-term Investors away and cause market sentiment to drop dramatically at a time when the coin is weak.

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ABOUT THE AUTHOR See More

Timothy St. John

Financial Writer - European & US Desks

Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.