Bitcoin at $59,900 amid inflation concerns, here’s what experts think lies ahead | Stock Market News

Bitcoin price today: The world’s biggest cryptocurrency, Bitcoin fell below the $60,000 mark, down 2.66% from the previous day, to $59,934.04 at noon on 26 June, according to data on CoinMarketCap. The token’s market capitalisation also fell 2.75% to $1.2 trillion, with trading volume up 3.09% to $45.08 billion, it showed.

The overall crypto market cap also touched its lowest since May, at $2.06 trillion, with trading volume of $101.38 billion, as per the data. Bitcoin maintained dominance, comprising 58.2% of the total market, down 1.59%, followed by second largest token Ethereum, which holds 9.1% of the pie, down 0.77%, and the other coins gaining 2.37% to capture 32.7% of the market.

Crypto price today: Check Ethereum, Binance, Solana and XRP

At time of writing, Ethereum is trading at $1,563.35, down 5.04% from the previous day, with market cap of $188.67 billion (down 5.43%) and volume at $17.39 billion (an increase of 12.24%).

Further, Binance Coin is trading at $561.58 (down 1.49%), with market cap of $75.69 billion (down 1.48%) and volume at $1.46 billion (up 4.19%); Solana is down 0.04% to $69.24, with market cap of $40.19 billion (down 0.05%) and volume at $3.94 billion (up 16.83%); and XRP is down 4.22% to $1.03, with market cap of $64.71 billion (down 3.93%) and volume at $2.65 billion (up 14.87%).

The CoinDCX Research Team noted that the top gainers for the day are Audiera and SKYAI with over 29% & 23% surge, followed by Terra Classic & ether.fi by more than 8% and MemeCore by 6.27%. On the other hand, Mantle drops over 15.5%, followed by Worldcoin by 10.57% and Pepe by 8.34%.

WazirX market’s desk further noted that altcoin Jito surged over 40% in 24 hours, emerging as one of the day’s strongest performers despite the absence of any major project announcements.

Why is crypto market in the red?

According to an analysis by CoinMarketCap, Bitcoin is underperforming a broadly weaker market, due to hawkish macro shock from hot United States inflation data for May, which reignited fears that the US Federal Reserve could hike interest rates.

Piyush Walke, Derivatives Research Analyst at Delta Exchange noted that the Fed’s preferred inflation measure has risen to its highest level since 2023. He added that significant outflow in ETF added another reason for the decline.

CoinSwitch Markets Desk also noted that whales have been pulling back, with a lot of investor attention and new money lately flowing into artificial intelligence (AI), “which leaves crypto fighting for a smaller slice of overall risk appetite”.

The fear and greed index has slipped back to 15 as the sentiments have turned to ‘extreme fear’, as per the CoinDCX Research Team. Akshat Siddhant, Lead quant analyst at Mudrex noted that the sharp decline led to nearly $600 million in crypto liquidations within an hour, accelerating downside momentum. Markets are also preparing for a $10 billion options expiry, which could increase short-term volatility.

Bitcoin price down: What lies ahead? We ask experts…

The CoinSwitch Markets Desk sees that most concern is for the wider market cool down “rather than anything broken in crypto itself. For now, Investors can keep an eye on $55,000 as support and $61,000-62,000 as the level to reclaim, and keep position sizes sensible”.

“While spot Bitcoin ETFs continue to see outflows, the pace has slowed significantly from about 4,400 BTC per day to around 625 BTC, suggesting selling pressure may be easing. Until a stronger positive catalyst emerges, $56,000 remains the key support level. A break below that level could lead to further weakness,” as per Siddhant.

“After the $59,000 level, the next major higher-timeframe support is around $55,000. The Bollinger Bands are expanding, indicating increasing volatility as the price continues to trend lower. On the upside, Bitcoin needs to reclaim the $60,000 level to signal a potential recovery. Until then, bearish pressure is likely to remain intact, keeping the overall trend biased on bearish side,” as per Walke.

On Ethereum, Walke felt the token is approaching the critical $1,500 level, which warrants caution. A decisive break below $1,500 could accelerate selling pressure, potentially driving the price toward the $1,440 support zone. On the upside, the $1,650–$1,680 range has emerged as the key resistance area. Bulls must reclaim this zone to signal renewed buying momentum and improve the short-term outlook.

“What is important to recognise is that virtual digital assets are increasingly behaving as if they were a part of the broader financial ecosystem rather than moving in isolation. Periods like these often test conviction, but they also reinforce the importance of regulatory clarity, institutional participation, and robust market infrastructure in supporting the next phase of growth for the category,” feels Vikaas M Sachdeva, CEO of BitDelta India.