Today in Crypto: Bitcoin Sinks 20% in June as Traders Dump Longs and Widen 2026 Losses to 34%

Across major exchanges, bitcoin faced significant volatility at the end of June, sliding toward $58,000, erasing recent gains, and putting it on track for double-digit monthly losses.

Bitcoin looked poised to end June with double-digit losses after it slid toward $58,000 on Tuesday.

Trading market data shows the top crypto token tumbled from over $60,000 on Monday evening to just over $58,200 before a relief rally quickly saw it reclaim $59,000.

A subsequent sell-off wave saw bitcoin plunge to $58,017, completely erasing Monday’s gains.

Although the cryptocurrency attempted to rally shortly afterwards, it lost momentum after surpassing $58,500.

EDT, bitcoin traded just below $58,400, translating to a 24-hour loss of over 3% and a 6% drop over the last seven days.

However, because the crypto token touched a year low in June, having started the month trading well above $73,500, sector data shows its 30-day losses are north of 20%.

This prolonged June downturn cemented a brutal six-month stretch for bitcoin, driving its year-to-date losses to 34%.