Bitcoin’s $60K rebound just collapsed as $427M in long liquidations followed sticky inflation data
Bitcoin’s rebound above $60,000 failed after June 25 U.S. data reinforced a “higher-for-longer” macro backdrop: sticky inflation, solid income and spending, a stronger GDP revision, lower jobless claims, and resilient ex-transport durable goods orders. BTC briefly flushed from about $61,844 to $58,189 amid heavy liquidations, then recovered only partway to around $59,630. Roughly $482 million in crypto positions were liquidated in an hour, mostly longs, with Bitcoin accounting for about $272 million. The broader risk move was also volatile: SPY dropped sharply before partially rebounding, while the dollar and 10-year Treasury yield fell back from intraday highs. May PCE showed 0.4% monthly and 4.1% annual headline inflation, with core PCE at 3.4% annualized, keeping policy relief hard to price. The data weakened the case for an immediate risk-asset rebound, leaving Bitcoin nearer $58,000 support than a restored uptrend.
