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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
06/26/2026

Bitcoin Drops to $58K on US PCE Inflation Spike, $1.48B in Liquidations

What happened: Bitcoin fell to an intraday low of $58,035—its lowest level since September 2024—following the release of US Personal Consumption Expenditures (PCE) inflation data showing a 4.

Bitcoin Drops to $58K on US PCE Inflation Spike, $1.48B in Liquidations

What happened: Bitcoin fell to an intraday low of $58,035—its lowest level since September 2024—following the release of US Personal Consumption Expenditures (PCE) inflation data showing a 4.1% year-over-year increase, the highest since April 2023. The sharp move triggered approximately $600 million in crypto long liquidations within an hour, with total cross-crypto liquidations reaching up to $1.48 billion across 209,000 traders. Technical analysts now target $54,000 as the next key support, with some warning of further downside if the bear flag pattern persists.

Why it matters: The price action underscores Bitcoin's sensitivity to macroeconomic data and shifting Federal Reserve expectations. Elevated inflation dampens hopes for near-term rate cuts, pressuring risk assets. The scale of liquidations highlights the leverage and volatility inherent in crypto markets, while the technical breakdown suggests that sentiment remains fragile. Some traders characterize the sub-$60K moves as "manipulation," but structural macro pressures appear to be the dominant driver.

Source: Crypto Briefing