Bitcoin Rate Collapsed Below $60 Thousand

For the first time since the end of 2024.

On June 5, the bitcoin (BTC) exchange rate fell below $60 thousand per coin, losing more than 6% during the day and almost 20% at first of the month. At the same time, the price of Ethereum (ETH) fell below $1.6k, losing more than 10% in a day and more than 20% of its value since June 1.

The two coins updated the minimum price level held since the end of 2024, until the election of U.S. President Donald Trump in November 2024, whose administration is focused on the development of cryptocurrencies.

Before this moment, the annual minimum level was at $60 thousand. according to crypto exchange Binance, reached in early February amid escalating conflict in the Middle East.

The total capitalization of the crypto market has fallen to the same minimum values seen at the end of 2024 - about $2.1 trillion.Almost all major altcoins have also lost value, dropping by as much as 50%.

In the past 24 hours, crypto exchanges have liquidated the positions of 264,000 traders for a total of $1.3 billion, according to Coinglass. Of that amount, more than $1 billion came from long positions (longs) opened by those who bet on rising rates. More than $700 million in losses were in the bitcoin and Ethereum markets.

The figures for trading position liquidations echo the pattern of crypto traders' losses on June 2 and 3, when the combined losses totaled $1.85 billion and more than $1.6 billion, respectively.

You can support the website Charter97.org

MULTI-CURRENCY ACCOUNT FOR ASSISTANCE:

Bank's name: Bank Millennium S.A.
Address: ul. Stanislawa Zaryna, 2A, 02-593, Warszawa
IBAN: PL97116022020000000216711123
SWIFT: BIGBPLPW
Name of the account holder: Fundacja “KARTA ‘97”
Purpose/title of payment: Donation for statuary aims

You can contact us by the e-mail charter97@gmail.com