{
  "type": "article",
  "title": "Bitcoin Crashes Below $60K to a 21-Month Low, Dragging Ethereum, XRP and Dogecoin Down With It",
  "summary": "Bitcoin slid to its weakest level in 21 months, pulling Ethereum, XRP, Solana and Dogecoin lower while shares of crypto-linked companies tumbled.",
  "content": "Selling pressure across digital assets intensified on Wednesday, dragging Bitcoin down to its lowest point in 21 months. Investors kept unloading their holdings, and that wave of selling rattled the entire crypto market.\n\nAccording to CoinGecko, the largest digital asset by market value slipped as low as $59,217.5 before steadying at $60,700, a 2.7% drop over the past 24 hours. The move mirrored the strain showing up on Wall Street and left Bitcoin heading toward a third straight day of losses.\n\nEvery major coin took a hit\nAs the oldest cryptocurrency slid, the altcoins followed it down. Ethereum fell 3.1% to $1,610. XRP also dropped 3.1% to $1.07, while Solana shed 2.6% to land at $67. Over the same stretch, Dogecoin tumbled 4.6% to 7.5 cents.\n\nFor XRP, the decline raised the prospect of the token slipping under $1 for the first time since shortly after President Donald Trump won reelection in 2024. Dogecoin, meanwhile, had already cracked earlier in the day, sinking the first meme coin to its weakest level since late 2023.\n\n'Painful days, but we've seen this movie before'\nJuan Leon, senior investment strategist at crypto asset manager Bitwise, put it plainly: “Days like today are undoubtedly painful. But step back. We've seen this movie before.”\n\nLeon noted that sharp drawdowns in crypto prices can feel like they break the entire investment thesis in the moment, yet the technology keeps getting adopted as a modern form of market plumbing. He added that a risk-off rotation hitting AI and semiconductor stocks was bruising an already depressed market for digital assets, saying, “This bear market shall pass, and crypto will come out stronger on the other side.”\n\nThere was also a view going around that, even with Bitcoin diving below $60K, its four-year cycle has not yet broken, according to 21Shares.\n\nInflation and rate fears in the background\nThe weakness arrived just before a fresh reading of the Federal Reserve's preferred inflation gauge. Economists expect Thursday's Personal Consumption Expenditures (PCE) index to show consumer prices rising 4.1% year over year, accelerating for a third month in a row.\n\nAfter hawkish comments from Fed Chair Kevin Warsh a week earlier, analysts say investors are absorbing the prospect of tighter monetary policy, which usually weighs on risk assets. Per CME Watch, the Fed is projected to raise rates at its September meeting.\n\nWith trading looking sluggish, it seems some traders have grown less active. Jasper De Maere, an OTC trader at crypto trading firm Wintermute, wrote: “Flows are suggesting traders have started going into summer recess. It's possible we'll consolidate at these levels, at the mercy of the equity market which has the potential to pull crypto down alongside it in case of a further risk-off rotation.”\n\nCrypto-linked stocks get slammed\nA 0.4% slide in the Nasdaq was led by Micron Technology ahead of the firm's earnings, but the chipmaker's losses were dwarfed by those of crypto-native companies.\n\nBitcoin treasury giant Strategy plunged 9% to $94.43 after bouncing off a 27-month low of $92.28, a slide that put even more scrutiny on its flagship preferred stock, Stretch (STRC), which hit fresh lows on Wednesday following a record drop last Thursday. Coinbase fell 5% to $150.11, while Robinhood shares slipped 5.8% to $97.21.\n\nBitMine, the largest corporate holder of Ethereum, saw its shares plunge 7.4% to $14.01, their lowest level since the company committed itself to stockpiling the digital asset a year ago.\n\nWhat this means for you\n• For investors: The drop across Bitcoin, Ethereum, XRP, Solana and Dogecoin has eaten into the value of crypto holdings, and portfolios could be flashing red.\n• For shareholders: Crypto-linked stocks like Strategy, Coinbase, Robinhood and BitMine fell sharply, so anyone holding them takes a direct hit.\n• What's next: Thursday's inflation reading and a possible September rate hike could fuel even more volatility ahead.\n\nQuestions & Answers\n\n1. How far did Bitcoin's price fall?\nBitcoin slid as low as $59,217.5 before steadying at $60,700, a 2.7% decline over 24 hours. That marks its lowest level in 21 months.\n\n2. What happened to the other cryptocurrencies?\nEthereum fell 3.1% to $1,610, XRP dropped 3.1% to $1.07, Solana lost 2.6% to $67, and Dogecoin tumbled 4.6% to 7.5 cents.\n\n3. Why are the moves in XRP and Dogecoin significant?\nXRP came close to slipping under $1 for the first time since shortly after Donald Trump's 2024 reelection, while Dogecoin hit its lowest level since late 2023.\n\n4. What did Bitwise's Juan Leon say?\nHe acknowledged the day was painful but said the market has seen sell-offs like this before and that crypto will come out stronger on the other side.\n\n5. Which crypto-linked stocks dropped?\nStrategy fell 9% to $94.43, Coinbase dropped 5% to $150.11, Robinhood slid 5.8% to $97.21, and BitMine plunged 7.4% to $14.01.\n\n6. What's being blamed for the sell-off?\nA risk-off rotation hitting AI and semiconductor stocks, the wait for fresh inflation data, and expectations of tighter monetary policy are seen as the main drivers.",
  "url": "https://trendkia.com/en/market/60-hajara-dolara-ke-niche-lurhaka-bitcoin-ethereum-se-lekara-dogecoin-taka-hara-sikke-men-bikavali-ka-dabava-2802",
  "category": "Market",
  "publishedAt": "2026-06-24",
  "tags": [
    "Bitcoin sell-off",
    "crypto market",
    "Ethereum",
    "Dogecoin",
    "XRP",
    "Federal Reserve",
    "crypto stocks"
  ],
  "language": "en",
  "site": "TrendKia"
}