BTC rebound fails near $60K after $427M long liquidations

Published: 2026-06-25 15:24:58 |

Bitcoin (BTC) briefly rebounded above $60,000, but June 25 U.S. macro data flipped the setup and sparked a liquidation-driven drop. BTC fell from an intraday high near $61,844 to about $58,189, then only partially recovered to around $59,630. CoinGlass data cited roughly $482M in total crypto liquidations over about one hour, with ~$427M from long positions versus ~$54M from shorts. BTC accounted for about $272M of the total, turning $60K from a recovery target into resistance. The trigger was “sticky” inflation and firmer growth signals. The article highlights May personal income/outlays: personal income +0.7%, disposable personal income +0.7%, PCE +0.7% and real PCE +0.3%. Inflation pressure remained elevated with headline PCE +0.4% m/m (+4.1% y/y) and core PCE +0.3% m/m (+3.4% y/y. Growth was revised higher (Q1 real GDP to 2.1% annualized from 1.6%), jobless claims fell to 215,000 (week ending Jun 20), and durable goods were mixed but ex-transport orders rose +1.3%. Market pricing therefore shifted away from near-term rate relief. For traders, BTC’s downside catalysts (liquidation risk near ~$57.3K and positioning sensitivity around ~$58K) remained active, keeping BTC vulnerable until macro conditions stop counteracting the rebound.

Bearish

The news is bearish for BTC because “sticky” U.S. inflation and firmer growth reduced the probability of near-term rate relief—the exact macro catalyst traders often need to sustain crypto rebounds. The liquidation statistics also matter: ~$427M of long liquidations (vs ~$54M shorts) show leverage was crowded to the upside and got forcibly unwound, amplifying downside velocity. This resembles prior BTC selloffs where disappointing macro prints remove the “rate-cut narrative,” and then crowded longs get mechanically liquidated, pushing price toward well-watched support/liquidation pockets. Short term, expect elevated volatility around ~$58K and renewed tests of lower liquidation zones (the article flags ~$57.3K as important). If yields and the dollar resume strengthening, BTC rallies may fail quickly. Longer term, the damage depends on whether the market can eventually re-establish a path toward easing policy. If upcoming data cools inflation, the liquidation flush can set up a base and allow BTC to reclaim $60K with less leverage. But as long as sticky inflation keeps rates higher-for-longer pricing intact, BTC may continue to trade as a high-beta asset vulnerable to macro-driven risk-off.