{"id":187043,"date":"2026-06-25T14:27:34","date_gmt":"2026-06-25T14:27:34","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=187043"},"modified":"2026-06-25T14:27:34","modified_gmt":"2026-06-25T14:27:34","slug":"bitcoin-price-flash-crashes-from-61000-to-58000-as-market-waits-for-support","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=187043","title":{"rendered":"Bitcoin Price Flash Crashes from $61,000 to $58,000 as Market Waits For Support"},"content":{"rendered":"

Bitcoin Magazine<\/a><\/p>\n

Bitcoin Price Flash Crashes from $61,000 to $58,000 as Market Waits For Support<\/a><\/p>\n

<\/div>\n

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\u2019s 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

The world\u2019s 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.\u00a0<\/p>\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

Thursday\u2019s 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\u2019s price action for over a decade.\u00a0<\/p>\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

The bitcoin price support trendline, which drifts upward roughly 0.093% per day as Bitcoin\u2019s network matures, was sitting in the low $60,000s at the time of the breakdown. Thursday\u2019s intraday dip to the $58,000s pushed prices further below that level, deepening the historic deviation.<\/p>\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.\u00a0<\/p>\n

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

Bitcoin price sell-off<\/h2>\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.\u00a0<\/p>\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

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

This post Bitcoin Price Flash Crashes from $61,000 to $58,000 as Market Waits For Support<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Micah Zimmerman<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine Bitcoin Price Flash Crashes from $61,000 to $58,000 as Market Waits For Support Bitcoin price plunged to an intraday low of approximately $58,000 Thursday morning before staging a partial recovery, as a bear market that began after October\u2019s all-time high shows no clear signs of exhaustion \u2014 and a closely watched long-term valuation […]<\/p>\n","protected":false},"author":0,"featured_media":187044,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-187043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/187043"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=187043"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/187043\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/187044"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=187043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=187043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=187043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}