Bitcoin Falls Under $60,000 as 7,600 BTC Moves to Binance

Bitcoin slipped below $60,000 on June 24, trading near $59,340 after roughly 7,600 BTC moved into Binance. The price was down about 4% over 24 hours and about 9% over seven days, with market capitalization near $1.19 trillion and 24-hour volume around $37.46 billion.

On-chain analytics recorded the inflow of about 7,600 BTC to Binance, equivalent to roughly $451 million at the prevailing price. Exchange inflows place more coins in wallets able to execute trades on a major venue.

Public flow data for U.S.-listed spot Bitcoin ETFs showed one-day net outflows of 2,548 BTC and seven-day net outflows of 6,728 BTC on June 24. Those outflows reduced a prominent institutional-facing demand channel during the same period.

Leverage activity coincided with the selling. Data captured the closure of an 800 BTC long position after Bitcoin fell below $61,000. Liquidation trackers registered repeated long liquidations near $59,650 to $59,670 as the price traded under $60,000.

The large exchange inflows, ETF redemptions and long liquidations occurred within the same timeframe on June 24. Key indicators to watch next include whether exchange inflows slow, ETF flows stabilize and long liquidation alerts decline, which would show whether selling pressure is easing.

As of June 24 market data, Bitcoin remained the largest cryptocurrency by market capitalization while trading below a widely watched support level.