Bitcoin

when

Rekt

<p>After the latest US inflation figures were released, <a href="https://en.coin-turk.com/bitcoin-bulls-take-charge-as-economic-winds-approach/" rel="noopener noreferrer nofollow">Bitcoin</a> tumbled sharply during the Wall Street opening, falling as low as $58,035. This marks the lowest level recorded since September 2024. The sudden sell-off in the cryptocurrency market coincided with heightened volatility in major stock indices.</p>
<h2 id="inflation-data-rattles-markets">Inflation data rattles markets</h2>
<p>The US Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s preferred gauge of inflation, rose 4.1% year over year in May. On a monthly basis, the index climbed 0.4%, while the core indicator—which excludes food and energy—increased by 0.3%. The data indicated that inflation is cooling less rapidly than anticipated, accelerating the sell-off across risk assets.</p>
<blockquote>
 <p>According to the US Bureau of Economic Analysis, in May the PCE Price Index gained 0.4% monthly, with the core PCE index (excluding food and energy) rising by 0.3%.</p>
</blockquote>
<p>Stock markets also saw a spike in volatility. At the time of reporting, the Nasdaq Composite Index was down 0.5%, with the S&amp;P 500 managing a slight gain. Notably, the Nasdaq 100 dropped 2% within just 30 minutes of the opening bell, underscoring the nervous sentiment spreading through risk assets.</p>
<h2 id="liquidations-top-600-million-in-one-hour">Liquidations top $600 million in one hour</h2>
<p>Bitcoin’s rapid drop triggered large-scale liquidations in the derivatives market. According to data from CoinGlass, over $600 million worth of crypto positions were wiped out within a single hour across the entire market. The majority of these forced closures were on long positions, reflecting how investors betting on higher prices were caught off guard.</p>
<p>CoinGlass is a widely followed data platform tracking liquidation trends in crypto derivatives markets. In this context, “liquidation” refers to a leveraged position being automatically closed out by an exchange due to insufficient collateral to cover losses.</p>
<p>Mini glossary: In leveraged trading, “liquidation” occurs when a price move sharply opposes an investor’s position, triggering an automatic closure to protect collateral. This process can swiftly fuel further cascading sell-offs.</p>
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 <p>Niels Klaver, co-founder of STABL Agency, commented that the BTC pair appears to be approaching the final downward leg of this bear cycle, identifying $55,000 as the next short-term target.</p>
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<h2 id="analysts-highlight-critical-60-000-support">Analysts highlight critical $60,000 support</h2>
<p>Some market commentators have argued that recent price swings are being orchestrated to squeeze positions. The pseudonymous trader Killa claimed that Bitcoin is currently in a manipulation phase, though these assessments have not been independently verified.</p>
<p>In contrast, analyst Rekt Capital pointed out that the $60,000 support level has clearly weakened. According to him, after the June monthly close, it will become clearer from which level a potential rebound in July might begin.</p>
<p>Rekt Capital also noted that the current market environment resembles the price structure of the 2022 bear market. In his view, the 50-month exponential moving average could now act as the next significant resistance zone for Bitcoin if downward momentum persists.</p>
<p>The post <a href="https://en.coin-turk.com/bitcoin-plunges-to-58035-after-us-inflation-data-shakes-markets-what-does-this-mean-for-investors/" rel="noopener noreferrer nofollow">Bitcoin plunges to $58,035 after US inflation data shakes markets! What does this mean for investors?</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Bitcoin plunges to $58,035 after US inflation data shakes markets! What does this mean for investors?

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