Bitcoin falls below $60,000 as selling pressure intensifies; crypto liquidations hit $1.5 billion

Bitcoin officially slipped below the $60,000 mark as selling pressure accelerated across the cryptocurrency market.

Bitcoin was trading around $60,111, with the latest move showing continued weakness after the asset broke below the key psychological level. The decline comes as the cryptocurrency extends its recent correction, with traders facing heightened volatility.

The chart shows Bitcoin falling sharply from the $74,000–$75,000 zone, dropping through multiple support levels before moving below $60,000. The cryptocurrency has witnessed a steady series of lower highs and lower lows, signalling continued bearish momentum.

The latest sell-off has intensified liquidation pressure across the crypto market. Total leveraged crypto liquidations have risen to $1.5 billion over the last 24 hours, indicating forced selling as traders’ positions are closed due to falling prices.

Bitcoin’s decline has erased a significant portion of its recent gains, with investors now watching whether the cryptocurrency can stabilise around current levels or face further downside.

The move below $60,000 has increased concerns among market participants, as Bitcoin enters a crucial phase where buyers will look to defend key support zones.

For Indian investors tracking Bitcoin prices, the fall also impacts the rupee value of crypto holdings, depending on global dollar movements and exchange rate fluctuations.