Bitcoin dropped to $58,131 on June 25, marking its lowest price since September 2024. The decline triggered more than $1.4 billion in liquidations across crypto markets in just 24 hours, with most hitting long positions.
The Crypto Fear & Greed Index plummeted to 13, signalling extreme fear. Bitcoin is now trading more than 53% below its record high above $126,000 set in late 2025. The total cryptocurrency market cap has roughly halved from $4.28 trillion to $2 trillion.
A key driver is the impending expiration of roughly $10 billion in Bitcoin options on Deribit set for June 26, which analysts expect to inject more volatility. Geopolitical tensions and risk-off sentiment have also pushed investors away from speculative assets.
Technically, Bitcoin has broken below its 200-week moving average, a critical bear market signal last seen during the 2022 downturn. Investors are watching the $55,000 to $58,000 range for signs of a breakdown or stabilization.