Bitcoin has fallen below $60,000 for the third time since early 2026.
The current price is more than half the all-time high of $126,000 recorded in October 2025.
After previous drops in February and early June, Bitcoin rebounded 10-30% from local lows but then depreciated again.
On June 5, it hit a 2026 low of $59,000, then demand surged and the price rose to $67,000 by mid-month. However, a new decline followed. The current price is about 20% lower than on June 1.
In the morning, Bitcoin was above $63,000, but sharp selling began after 4:30 PM Baku time. By 8:00 PM, BTC dropped to $59,622 on Binance's USDT pair.
According to Coinglass, long positions worth about $100 million were liquidated within an hour. The largest single liquidation was $12 million on Binance.
Other major cryptocurrencies also lost value. CoinMarketCap reported that all top 100 cryptocurrencies showed negative dynamics over the past day and hour.
The total crypto market capitalization fell from $2.15 trillion to $2.04 trillion in less than a day.
