Bitcoin’s $60K rebound just collapsed as $427M in long liquidations followed sticky inflation data

Here is the latest from the digital-asset markets: Bitcoin's rebound above $60,000 just failed because the bundle of U. macro data released June 25 gave risk traders the opposite of clean relief: sticky inflation, firm demand, a stronger growth revision, fewer jobless claims, and resilient ex-transport orders. Bitcoin briefly flash-crashed in a liquidation-driven flush, falling from an intraday high near $61,844 to a low of about $58,189 before recovering part of the move, trading around $59,630.

The rebound leaves BTC off the intraday lows as of press time, but the price remains below the pre-drop range. The move coincided with a heavily one-sided liquidation event. CoinGlass liquidation readouts showed about $482 million in crypto liquidations over one hour, with roughly $427 million coming from longs and only about $54 million from shorts, while BTC accounted for about $272 million of the total.

Market Dynamics

The equity move was also sharp but partially retraced. SPY dropped from the high-$730s into the $728 to $730 area before rebounding to $737 on the latest 30-minute candle. That candle showed an open at $735, a high at $737, a low at $734, and a close at $737, while the chart label still showed SPY down about 1.

DXY reversed lower after trading up toward the 101. 8 area, falling back to 101. 376 on the latest print.

10-year yield also dropped hard, moving from the upper-4. 374%, leaving rates near the lower end of the displayed range after the flash move. The move kept Bitcoin closer to the $58,000 area than to a restored upside range, turning $60,000 from a recovery target into the line buyers still had to prove.

Market Impact

Related Reading America’s Bitcoin buying turns negative as BTC drifts closer to the $57,300 liquidation trap Bitcoin has lost 16% this month while ETF redemptions and weak US trading activity deepen pressure on the market. Jun 24, 2026 Oluwapelumi Adejumo The rejection was more than another chart-level failure. The release arrived after Bitcoin had already slipped below $60,000, then denied traders the soft-data narrative that could have helped risk assets rebound.

The June 25 releases showed sticky price pressure, high income and spending, a firmer growth revision, fewer jobless claims, and an orders report whose weak headline was softened by a stronger ex-transport reading. The data undercut the relief trade The most direct pressure came from the May personal income and outlays release. BEA said personal income rose 0.

7%, disposable personal income rose 0. 7%, and real PCE rose 0. Prices also stayed elevated.

Crypto markets are watching this development closely as investors weigh its potential impact on prices.