{"id":48115,"date":"2026-06-25T14:27:34","date_gmt":"2026-06-25T14:27:34","guid":{"rendered":"https:\/\/cryptd.in\/bitcoin-price-flash-crashes-from-61000-to-58000-as-market-waits-for-support\/"},"modified":"2026-06-25T14:27:34","modified_gmt":"2026-06-25T14:27:34","slug":"bitcoin-price-flash-crashes-from-61000-to-58000-as-market-waits-for-support","status":"publish","type":"post","link":"https:\/\/cryptd.in\/bg\/bitcoin-price-flash-crashes-from-61000-to-58000-as-market-waits-for-support\/","title":{"rendered":"Bitcoin Price Flash Crashes from $61,000 to $58,000 as Market Waits For Support"},"content":{"rendered":"<p><a rel=\"nofollow\" href=\"https:\/\/bitcoinmagazine.com\/\">Bitcoin Magazine<\/a><br \/>\n<img decoding=\"async\" src=\"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2026\/06\/Bitcoin-Price-Flash-Crashes-from-61000-to-58000-as-Market-Waits-For-Support.jpg\" \/><br \/>\n<a rel=\"nofollow\" href=\"https:\/\/bitcoinmagazine.com\/markets\/bitcoin-price-crashes-from-61000-to-58000\">Bitcoin Price Flash Crashes from $61,000 to $58,000 as Market Waits For Support<\/a><\/p>\n<div><\/div>\n<p class=\"wp-block-paragraph\">Bitcoin price <a href=\"https:\/\/bitcoinmagazine.com\/bitcoin-price\">plunged<\/a> to an intraday low of approximately $58,000 Thursday morning before staging a partial recovery, as a bear market that began after October\u2019s all-time high shows no clear signs of exhaustion \u2014 and a closely watched long-term valuation model appears to have broken for the first time in its history.<\/p>\n<p class=\"wp-block-paragraph\">The world\u2019s largest cryptocurrency by market cap was trading around $59,315 as of mid-morning Thursday, down more than 3% on the day and roughly 53% below its October 6, 2025 all-time high of $126,198.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Bitcoin price rallied as high as $61,868 in the early hours before sellers overwhelmed buyers, sending the price off a cliff in a matter of minutes.<\/p>\n<p class=\"wp-block-paragraph\">Thursday\u2019s flash crash followed an already bruising 24 hours. On Wednesday, Bitcoin had already traded below $60,000 for a time at the lower support <a href=\"https:\/\/www.bitcoinmagazinepro.com\/charts\/bitcoin-power-law\/\" target=\"_blank\" rel=\"noopener\">trendline<\/a> of the Bitcoin Power Law \u2014 a long-term valuation model popularized by physicist Giovanni Santostasi that plots price against time on a logarithmic scale and has historically contained all of Bitcoin\u2019s price action for over a decade.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Analysts tracking the model noted that while Bitcoin has flirted with the floor in past market dislocations \u2014 most notably during the March 2020 COVID crash and the <a href=\"https:\/\/bitcoinmagazine.com\/markets\/ftx-crypto-collapse-is-nothing-new\" data-type=\"link\" data-id=\"https:\/\/bitcoinmagazine.com\/markets\/ftx-crypto-collapse-is-nothing-new\">FTX collapse<\/a> in November 2022 \u2014 a sustained close below the support band had never been registered until this week.<\/p>\n<p class=\"wp-block-paragraph\">The bitcoin price support trendline, which drifts upward roughly 0.093% per day as Bitcoin\u2019s network matures, was sitting in the low $60,000s at the time of the breakdown. Thursday\u2019s intraday dip to the $58,000s pushed prices further below that level, deepening the historic deviation.<\/p>\n<p class=\"wp-block-paragraph\">Whether the breach constitutes a structural breakdown of the model \u2014 or a temporary excursion that will ultimately resolve higher \u2014 is up for debate.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Historically, the <a href=\"https:\/\/bitcoinmagazine.com\/tags\/power-law\">Power Law Oscillator<\/a> reaching extreme lows has preceded significant recoveries.<\/p>\n<h2 class=\"wp-block-heading\">Bitcoin price sell-off<\/h2>\n<p class=\"wp-block-paragraph\">The macro backdrop driving the selloff over the last couple months is well-documented. Spot Bitcoin ETFs have seen outflows in the billions in recent weeks. Strategy sold Bitcoin for the first time in four years, rattling institutional confidence.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Escalating U.S.-Iran tensions have sent oil prices higher, reviving inflation fears and prompting some Federal Reserve officials to <a href=\"https:\/\/www.morningstar.com\/news\/marketwatch\/20260624483\/did-the-trump-white-house-just-give-warsh-the-green-light-to-hike-interest-rates-this-analyst-thinks-so\" target=\"_blank\" rel=\"noopener\">float<\/a> the possibility of rate hikes rather than cuts.<\/p>\n<p class=\"wp-block-paragraph\">Capital rotation out of crypto and into AI-related equities has compounded the pressure, with investors chasing a different technology narrative entirely.<\/p>\n<p class=\"wp-block-paragraph\">With Bitcoin price now sitting more than 50% below its <a href=\"https:\/\/bitcoinmagazine.com\/markets\/bitcoin-price-skyrockets-to-all-time-high-of-125750-what-comes-next\" data-type=\"link\" data-id=\"https:\/\/bitcoinmagazine.com\/markets\/bitcoin-price-skyrockets-to-all-time-high-of-125750-what-comes-next\">all-time high<\/a> and the Power Law model in uncharted territory, bulls face a critical test with bears clearly in control.\u00a0<\/p>\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" width=\"972\" height=\"1024\" src=\"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2026\/06\/Bitcoin-Magazine-Pro-Screenshot-2026-06-25T102612.064-972x1024.png\" alt=\"bitcoin price\" class=\"wp-image-52953\" title=\"Bitcoin Price Flash Crashes from $61,000 to $58,000 as Market Waits For Support 1\" \/><\/figure>\n<p>This post <a rel=\"nofollow\" href=\"https:\/\/bitcoinmagazine.com\/markets\/bitcoin-price-crashes-from-61000-to-58000\">Bitcoin Price Flash Crashes from $61,000 to $58,000 as Market Waits For Support<\/a> first appeared on <a rel=\"nofollow\" href=\"https:\/\/bitcoinmagazine.com\/\">Bitcoin Magazine<\/a> and is written by <a rel=\"nofollow\" href=\"https:\/\/bitcoinmagazine.com\/authors\/micahzimmerman\">Micah Zimmerman<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Bitcoin Magazine Bitcoin Price Flash Crashes from $61,000 to $58,000 as Market Waits For Support Bitcoin price plunged to an intraday low of approximately $58,000 Thursday morning before staging a partial recovery, as a bear market that began after October\u2019s all-time high shows no clear signs of exhaustion \u2014 and a closely watched long-term valuation [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":48117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-48115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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