Bitcoin’s rebound toward $60,000 stalled on June 25 after U.S. macroeconomic data signaled sticky inflation and firmer growth, triggering $427 million in long liquidations in a single hour and pushing the price from an intraday high of $61,844 to a low of $58,189.
The liquidation cascade came after the U.S. Bureau of Economic Analysis, Labor Department, and Census Bureau released a bundle of economic indicators showing personal income rose 0.7%, disposable personal income climbed 0.7%, and the personal consumption expenditures index increased 0.7% monthly. Headline PCE rose 0.4% monthly and 4.1% year-over-year, while core PCE gained 0.3% monthly and 3.4% year-over-year. The data combination signaled strong consumer spending paired with persistent price pressures, making near-term interest rate relief harder to price into markets.
Broader U.S. economic revisions also weighed on sentiment. Q1 real GDP was revised upward to a 2.1% annualized pace from a prior estimate of 1.6%, indicating the economy remained resilient. Initial jobless claims fell to 215,000 for the week ending June 20, down from a revised 227,000 the prior week. May durable goods orders fell 4.5% overall, though orders excluding transportation rose 1.3%, suggesting demand remained intact outside the volatile transportation sector.
The liquidation event extended beyond Bitcoin. Total crypto liquidations reached $482 million in the one-hour period, with short liquidations accounting for $54 million and long liquidations totaling $427 million, according to liquidation data provider CoinGlass. Bitcoin accounted for $272 million of the total liquidation volume.
Bitcoin’s 24-hour volume stood at $48 billion at the time of the selloff. The broader cryptocurrency market cap sat at $2.05 trillion, with Bitcoin commanding 58.02% dominance. Bitcoin’s seven-day decline reached 8.01%, extending losses for the month. The asset traded at $59,630 at press time, recovering partially from the intraday low but remaining well below the day’s opening levels.
Liquidation risk had been building. CryptoSlate identified support pressure near $57,300 and ETF-flow constraints around $58,000 ahead of the data release. The combination of quarterly options expiry and institutional redemption activity created a collision point that materialized once the inflation and growth data arrived.
Bitcoin’s market cap stood at $1.2 trillion at the time of publication, with circulating supply at 20.05 million of the 21 million maximum supply. The asset remains down 16% for the month of June and remains significantly below its all-time high of $126,198.07 set on October 6, 2025.
