Bitcoin Hits 2026 Low as $1.48B Liquidated in 24 Hours
Bitcoin plunged to a new low, with $78.95M liquidated in the last hour and $1.48B over 24 hours. US BTC ETFs saw $469M in outflows, hot inflation data dashed rate-cut hopes, and whales sold, with Strategy trimming its holdings.
BTCUSD
Bitcoin has fallen to a fresh 2026 low, with massive liquidations accelerating losses. In the last hour alone, $78.95M worth of positions were wiped out, bringing the 24-hour total to $1.48B.
Key factors driving the sell-off:
- US Bitcoin ETFs bled $469M in a single day, marking the seventh consecutive week of outflows.
- Hot inflation data this week has effectively killed near-term expectations for Federal Reserve rate cuts.
- Large holders (whales) have been selling; even Strategy trimmed its Bitcoin holdings to cover dividend payments.
- Leveraged positions are being force-liquidated as critical technical levels break.
- A strong US dollar, a hawkish Bank of Japan stance, and capital rotating into AI stocks are further pressuring the asset.
The $59K support level held earlier this year, and traders are now watching to see if it can serve as a floor again.
Source: Cointelegraph