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Bitcoin drops toward $61,000 as Strategy, Coinbase and Circle slide

Bitcoin drops toward $61,000 as Strategy, Coinbase and Circle slide

Bitcoin fell below $60,000 at one point and was down nearly 20% for the month, pressured by ETF outflows, tighter 2026 Fed expectations and liquidation-driven weakness in crypto-linked stocks.

BTC

Fact Check
The Bitcoin Magazine article dated June 24, 2026 (matching the event_time anchor) directly confirms Bitcoin near $61,000-$61,500 having briefly fallen below $60,000, with declines in Strategy (MSTR -20%+), Coinbase (-2.5%), and Circle (-4%+). It attributes the move to ETF outflows, tighter 2026 Fed expectations (expected rate hikes), and liquidation-driven weakness in crypto stocks—all matching the claim. CoinDesk independently reports Bitcoin sliding toward $61,000 in June 2026, and additional searches confirm ETF outflows and Fed hawkishness during this window. The claim's ~20% monthly drop aligns with reported Strategy declines and broader weakness.
    Reference: 12
Summary

Bitcoin traded around $61,205 after briefly falling below $60,000, leaving it down nearly 20% for the month and more than half below its October 2025 record high. Deutsche Bank linked the weakness to six straight weeks of spot Bitcoin ETF outflows totaling about $6 billion, a shift to expected 2026 Federal Reserve rate hikes, and competition from AI-linked equities for risk capital. The drop below $61,000 triggered about $134 million of crypto liquidations in an hour, mostly long positions, while Strategy, Coinbase, Circle and other crypto-linked stocks fell on June 25 even as major U.S. indexes rose.

Terms & Concepts
  • spot Bitcoin ETFs: Funds that hold Bitcoin directly for investors.
  • liquidations: Forced closure of leveraged trading positions.
  • crypto-related stocks: Publicly traded companies tied to digital assets.