{"id":52951,"date":"2026-06-25T09:27:34","date_gmt":"2026-06-25T14:27:34","guid":{"rendered":"https:\/\/bitcoinmagazine.com\/?p=52951"},"modified":"2026-06-25T09:27:38","modified_gmt":"2026-06-25T14:27:38","slug":"bitcoin-price-crashes-from-61000-to-58000","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/bitcoin-price-crashes-from-61000-to-58000","title":{"rendered":"Bitcoin Price Flash Crashes from $61,000 to $58,000 as Market Waits For Support"},"content":{"rendered":"
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Bitcoin price plunged<\/a> to an intraday low of approximately $58,000 Thursday morning before staging a partial recovery, as a bear market that began after October’s all-time high shows no clear signs of exhaustion \u2014 and a closely watched long-term valuation model appears to have broken for the first time in its history.<\/p>\n\n\n\n

The world’s largest cryptocurrency by market cap was trading around $59,315 as of mid-morning Thursday, down more than 3% on the day and roughly 53% below its October 6, 2025 all-time high of $126,198. <\/p>\n\n\n\n

Bitcoin price rallied as high as $61,868 in the early hours before sellers overwhelmed buyers, sending the price off a cliff in a matter of minutes.<\/p>\n\n\n\n

Thursday’s flash crash followed an already bruising 24 hours. On Wednesday, Bitcoin had already traded below $60,000 for a time at the lower support trendline<\/a> of the Bitcoin Power Law \u2014 a long-term valuation model popularized by physicist Giovanni Santostasi that plots price against time on a logarithmic scale and has historically contained all of Bitcoin’s price action for over a decade. <\/p>\n\n\n\n

Analysts tracking the model noted that while Bitcoin has flirted with the floor in past market dislocations \u2014 most notably during the March 2020 COVID crash and the FTX collapse<\/a> in November 2022 \u2014 a sustained close below the support band had never been registered until this week.<\/p>\n\n\n\n

The bitcoin price support trendline, which drifts upward roughly 0.093% per day as Bitcoin’s network matures, was sitting in the low $60,000s at the time of the breakdown. Thursday’s intraday dip to the $58,000s pushed prices further below that level, deepening the historic deviation.<\/p>\n\n\n\n

Whether the breach constitutes a structural breakdown of the model \u2014 or a temporary excursion that will ultimately resolve higher \u2014 is up for debate. <\/p>\n\n\n\n

Historically, the Power Law Oscillator<\/a> reaching extreme lows has preceded significant recoveries.<\/p>\n\n\n\n

Bitcoin price sell-off<\/h2>\n\n\n\n

The macro backdrop driving the selloff over the last couple months is well-documented. Spot Bitcoin ETFs have seen outflows in the billions in recent weeks. Strategy sold Bitcoin for the first time in four years, rattling institutional confidence. <\/p>\n\n\n\n

Escalating U.S.-Iran tensions have sent oil prices higher, reviving inflation fears and prompting some Federal Reserve officials to float<\/a> the possibility of rate hikes rather than cuts.<\/p>\n\n\n\n

Capital rotation out of crypto and into AI-related equities has compounded the pressure, with investors chasing a different technology narrative entirely.<\/p>\n\n\n\n

With Bitcoin price now sitting more than 50% below its all-time high<\/a> and the Power Law model in uncharted territory, bulls face a critical test with bears clearly in control.\u00a0<\/p>\n\n\n\n

\"bitcoin<\/figure>\n","protected":false},"excerpt":{"rendered":"

Bitcoin price plunged from $61,000 to $58,000 in a sharp sell-off this morning. <\/p>\n","protected":false},"author":3817,"featured_media":52954,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[76,132,6090,4303,247],"class_list":["post-52951","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-bitcoin","tag-bitcoin-price","tag-market","tag-power-law","tag-price-action"],"author_data":{"id":3817,"name":"Micah Zimmerman","nicename":"micahzimmerman","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/11\/Micah_Zimmerman_Author_Image.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2026\/06\/Bitcoin-Price-Flash-Crashes-from-61000-to-58000-as-Market-Waits-For-Support.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/52951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3817"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=52951"}],"version-history":[{"count":2,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/52951\/revisions"}],"predecessor-version":[{"id":52955,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/52951\/revisions\/52955"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/52954"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=52951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=52951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=52951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}