Bitcoin slipped to around $62.7K as a tech-led market selloff triggered $717 million in crypto liquidations, pushing investor sentiment into extreme fear territory.
US spot Bitcoin ETFs recorded a sixth consecutive week of outflows, with total withdrawals exceeding $4.4 billion, highlighting continued institutional caution.
Ethereum faced added pressure after the Ethereum Foundation cut 20% of its workforce, while Ripple gained regulatory momentum with preliminary MiCA approval in Europe.
Crypto markets are under broad selling pressure today. Bitcoin is trading near $62,694, pressured by a sharp Nasdaq selloff that spilled into digital assets overnight. AI and semiconductor stocks led the equity decline, pulling risk-sensitive crypto positions with them.
The market absorbed $717 million in liquidations across 24 hours. Nearly 145,000 traders were wiped out in the process. US spot Bitcoin ETFs are now in a sixth straight week of net outflows, with the cumulative total surpassing $4.4 billion since mid-May. The Crypto Fear and Greed Index sits at 23, deep inside extreme fear territory.
Bitcoin is holding near $62,694 today, right above its 200-week moving average at $62,300. The token dipped to an intraday low of $61,877 earlier in the session before stabilizing. Short-term technicals remain bearish, with price sitting below the 20-, 50-, and 100-day moving averages.
The $61,000 to $62,000 band is now the primary support cluster to watch. A clean break below it opens the path toward $56,000, where the next significant demand zone sits. On the recovery side, $64,500 is the first resistance to clear, followed by a stiff ceiling at $67,000 to $68,000.
Akshat Siddhant, Lead Quant Analyst at Mudrex, stated, "Bitcoin came under renewed selling pressure as a broader pullback in technology stocks weighed on risk assets globally. BTC briefly fell to $61,877, its lowest level since June 11, before stabilising near the $62,000 mark. The decline reflects a broader reassessment of high-growth and speculative assets. The $60,000 level acts as a critical support zone. A break below it could accelerate downside momentum and open the path toward the $56,000 region."
Piyush Walke, Derivatives Research Analyst at Delta Exchange, explained, "US spot Bitcoin ETFs recorded net outflows of $227 million last week, extending their negative flow streak to six consecutive weeks, indicating investor caution. After finding support near the $62,000 level, Bitcoin recovered toward $63,000 on lower timeframes. A Bollinger Band squeeze is evident on the daily chart, indicating that market volatility has fallen to relatively low levels. For the near term, Bitcoin is expected to remain range-bound between $60,500 and $67,500."
He further added, "Ethereum needs to hold support in the $1,600 to $1,630 range. Immediate resistance lies between $1,750 and $1,780, and a breakout above this zone could pave the way for a move toward $1,850."
According to the WazirX Market Desk, "Bitcoin is trading near $62,556, with short-term technicals signaling pressure. Ethereum trades near $1,661, down 0.23%, with daily technicals showing sell signals and moving averages strongly bearish. Strategy's latest 520 BTC purchase reinforced institutional conviction despite market volatility, while its larger USD reserve signaled a more balanced treasury approach."
Meanwhile, the CoinSwitch Markets Desk added, "BTC pulled back to the $62K level amid a broader bout of market caution as investors reduced exposure to risk assets following a sharp selloff in AI and technology stocks. Continued ETF outflows and softer market liquidity have also weighed on price action, leaving BTC below $65K. While near-term volatility may persist, long-term investors may benefit from focusing on fundamentals and maintaining a disciplined investment approach."
Also Read: Why More Women in India are Choosing Crypto Over Quick Profits
Let's take a look at the top crypto prices today, based on CoinMarketCap data as of June 24.
| Name | Price | 24h % | Market Cap | Volume (24h) |
|---|---|---|---|---|
| Bitcoin (BTC) | $62,694.77 | -1.40% | $1.25T | $31.07B |
| Ethereum (ETH) | $1,667.35 | -2.98% | $201.22B | $10.85B |
| Tether (USDT) | $0.9987 | -0.01% | $186.1B | $63.66B |
| BNB (BNB) | $576.96 | -1.69% | $77.76B | $1.04B |
| USDC (USDC) | $0.9997 | 0.0002 | $74.08B | $9.81B |
| XRP (XRP) | $1.10 | -1.41% | $68.31B | $1.49B |
| Solana (SOL) | $69.51 | -2.64% | $40.34B | $2.22B |
| TRON (TRX) | $0.3290 | -0.91% | $31.20B | $592.86M |
| Hyperliquid (HYPE) | $61.39 | -7.31% | $15.54B | $715.53M |
| Dogecoin (DOGE) | $0.07908 | -3.11% | $12.24B | $670.93M |
USDC was the session's standout, inching marginally higher as traders rotated out of volatile positions into stable settlement assets. Stablecoin inflows picked up noticeably following the liquidation wave.
TRON held relatively firm, shedding less than 1%, as its low-fee network absorbed transfer volume from traders seeking safer rails. BNB held better than most large-caps, with losses contained below 2%.
Hyperliquid posted the session's steepest decline, down 7.31%, as the high-beta token bore the brunt of altcoin deleveraging. The $15.34 million ETHUSD liquidation that hit Hyperliquid's derivatives platform was the single largest wipeout of the session.
Dogecoin shed 3.11% with no fresh catalyst to slow speculative outflows. Ethereum dropped 2.98%, adding to its year-to-date loss of over 30%.
Top headlines impacting crypto prices today.
A sharp slide in AI and semiconductor stocks bled into digital assets, erasing $717 million in leveraged positions over 24 hours. Bitcoin touched an intraday low of $61,877 before steadying near $62,694. South Korea's KOSPI fell nearly 10% in the session, deepening the global risk-off tone.
Around 145,000 traders were liquidated, with the largest single order, a $15.34 million ETHUSD position, hitting Hyperliquid. Analysts at Wolfe Research flagged that AI and chip stocks are absorbing excess speculative capital that previously flowed into crypto, creating a structural headwind for Bitcoin.
US spot Bitcoin ETFs logged net outflows of $227 million in the most recent week, pushing the losing streak to six straight weeks. BlackRock's IBIT saw $170 million in redemptions in a single session. Total withdrawals since mid-May now exceed $4.4 billion across 13 consecutive trading sessions.
ETF flows are currently the primary driver of Bitcoin's weekly price variation, according to Citi analyst Alex Saunders. A return to net inflows would be the clearest signal that institutional demand is recovering.
The Ethereum Foundation confirmed a 20% workforce reduction on June 23, capping a months-long restructuring effort. Co-founder Vitalik Buterin acknowledged the cuts directly, noting the EF is targeting a reduction in annual spending from roughly 15% of remaining reserves to 5% post-2030.
The announcement came as ETH was already trading near $1,650, down over 30% year-to-date. Senior departures have mounted since January, including co-executive director Hsiao-Wei Wang, compounding sentiment pressure on the network's largest token.
Ripple received a preliminary Green Light Letter from Luxembourg's CSSF, covering all 30 EEA countries. The CASP license, still subject to final conditions, positions Ripple among roughly 210 MiCA-compliant firms ahead of the July 1 deadline.
Ripple's stablecoin RLUSD has surpassed $300 million in circulation. The paired EMI and CASP structure opens a direct pathway for European clients to issue and redeem RLUSD under MiCA's stablecoin rules. XRP held near $1.10 support following the announcement, with traders watching whether the regulatory clarity sparks fresh inflows.
Prediction market participants trimmed the probability of the CLARITY Act passing by year-end to around 55%, reflecting growing skepticism about the Senate's timeline. The bill, which would formally codify XRP's commodity classification, had been a key catalyst that XRP traders were pricing in.
A stall in the legislative calendar clouds that thesis for now. Analysts note that passage, whenever it comes, remains the most consequential regulatory development for the broader altcoin market this cycle.
Also Read: Crypto News Today: Senate Passes Housing Bill With CBDC Ban, Sending It to the House
Bitcoin enters the second half of June holding just above a technically critical zone. The $61,000 to $62,000 band sits right at the 200-week moving average. On-chain data shows short-term holders are capitulating, while long-term holders have not moved. That split signals structural conviction is intact even as the surface reading stays weak.
The six-week ETF outflow streak is the clearest institutional signal in the market right now. At over $4.4 billion in total redemptions, the pace reflects a repricing of rate expectations and capital rotating into AI infrastructure.
Deutsche Bank has flagged that Bitcoin's current weakness maps directly onto the combined pressure of a hawkish Fed, ETF selling, and speculative capital chasing chip stocks.
Ethereum carries its own idiosyncratic risk following the EF restructuring. Ripple's MiCA approval is the clearest positive catalyst of the week. Broader EU regulatory clarity ahead of July 1 could provide incremental support for XRP and the wider altcoin space. Traders should track ETF daily flow data, the Dollar Index, and Senate developments under the CLARITY Act as the primary signals for the rest of June.
What is the Bitcoin price today?
Bitcoin is trading near $62,694 today, down 1.40% in 24 hours. Support sits at $61,000 to $62,000, with a deeper floor near $56,000 if that zone breaks. Resistance holds at $64,500, then $67,000 to $68,000.
Why is Bitcoin falling today?
Bitcoin is falling as a Nasdaq tech selloff drove $717 million in crypto liquidations. Six straight weeks of US spot ETF outflows and a hawkish Federal Reserve stance are compounding the selling pressure across the market.
What is the biggest crypto news today?
The Nasdaq-led $717 million liquidation event, Ripple's preliminary MiCA approval from Luxembourg, the Ethereum Foundation's 20% workforce cut, and the continued Bitcoin ETF outflow streak are the top stories moving markets today.
Which coins are falling the most today?
Hyperliquid leads declines, down 7.31%, followed by Dogecoin at 3.11% and Ethereum at 2.98%. XRP and Solana also shed over 1% to 2.6%, while Tether and USDC held near their dollar pegs.
What should crypto investors watch this week?
Investors should monitor Bitcoin ETF daily flows for any reversal, track the Dollar Index for a breakout signal, and watch CLARITY Act developments in the Senate. Ethereum's $1,600 to $1,630 support zone and Ripple's final MiCA approval process are also key technical and regulatory checkpoints to follow.
Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. The cryptocurrencies mentioned on this website may be risky, i.e., designed to induce you to invest financial resources that may be lost forever and may not be recoverable. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments.
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be risky, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.