Bitcoin drops toward $61,000 as Strategy, Coinbase and Circle slide
Bitcoin fell to $59,023.98, its lowest since Oct. 10, 2024, as tech-stock weakness, ETF outflows and broader crypto malaise deepened pressure on the token.
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.
Bitcoin fell more than 4% to $59,548.19 after touching $59,023.98 on Wednesday, its lowest level since Oct. 10, 2024 and the third time this year it has traded below $60,000. The decline came as a pullback in tech stocks added to a difficult backdrop for crypto, with investors also contending with persistent inflation concerns, weaker sentiment across digital assets and continued withdrawals from bitcoin exchange-traded funds. Bitcoin ETFs have seen $182 million leave so far this week and are on track for a seventh straight week of net outflows, while total assets held in the funds have fallen to $77.5 billion from about $113 billion at the end of last year. The broader industry is also watching the CLARITY Act, a market structure bill that has about five weeks to clear a key legislative hurdle before Congress' summer recess or likely be delayed until the fall. Sam Callahan of OranjeBTC said bitcoin's drawdown has still been milder than in past crypto winters because a larger institutional investor base has helped reduce volatility.
- bitcoin ETFs: Exchange-traded funds that give investors exposure to bitcoin through listed fund shares.
- CLARITY Act: A U.S. market structure bill for the crypto industry that faces a key legislative deadline before Congress' summer recess.
- net outflows: A period when more money leaves an investment fund than enters it.