Bitcoin Price Today: BTC Holds at $59,900 as Inflation Worries Persist

Bitcoin (BTC-USD) is clinging to the $59,900 level on June 26, 2026, following one of its sharpest single-day drops this year. Bitcoin fell to $58,000 on June 25, its weakest level since September 2024, after hotter US inflation data dented expectations for Federal Reserve rate cuts. US PCE rose 4.1% year-on-year in May, with core PCE at 3.4%. The selloff hit equities and crypto simultaneously, with the Nasdaq 100 reversing an intraday rally in lockstep with BTC’s decline.

The Inflation Trigger: PCE Data Drives the Drop

Thursday’s price action had a single root cause: the Fed’s preferred inflation gauge. The Personal Consumption Expenditures price index rose 4.1% in May from a year earlier, its highest reading since April 2023. Consumer spending rose 0.7% in May, above forecasts, while first-quarter GDP was revised up to 2.1% from 1.6%.

That combination of strong spending, rising inflation, and upward GDP removed any remaining case for a 2026 rate cut. The market reacted immediately.

Key macro data driving BTC on June 25–26:

• US PCE (May YoY): 4.1% highest since April 2023
• Core PCE: 3.4%
• Q1 2026 GDP Revised: +2.1% (up from 1.6%)
• Consumer Spending (May): +0.7% MoM, above forecasts
• Fed Funds Rate: 3.50%–3.75% (held at June meeting)

Fed Chair Warsh Kills Rate-Cut Hope

The Federal Reserve under Chair Kevin Warsh delivered a clear message at its June meeting. The Fed held rates at 3.50%–3.75% but removed all easing language. The committee raised its 2026 PCE inflation projection to 3.6% from 2.7% in March, the largest single-meeting upward revision since the inflation surge began.

Warsh himself abstained from submitting a dot projection, becoming the first Fed Chair in modern history to do so, signaling unprecedented policy uncertainty. Higher real yields reduce demand for non-yielding assets like Bitcoin directly, and the market is pricing that in now.

Liquidations and ETF Outflows: The Scale of Damage

The BTC selloff on June 25 wasn’t orderly it was a cascade. On-chain data showed over $450 million in leveraged longs liquidated as BTC dropped nearly 2.6%. Total crypto liquidations reached $1.26 billion among more than 209,000 traders over 24 hours.

ETF flows added more pressure. Spot Bitcoin ETFs recorded $68.3 million in outflows on June 22, with six straight weeks of institutional selling pressuring prices. Even a modest $39.9 million ETF inflow on June 24 failed to halt the decline, suggesting distribution pressure remains dominant.

Crypto damage on June 25:

• BTC intraday low: $58,000 (21-month low)
• Liquidations: $1.26 billion across 209,000+ traders
• BTC long liquidations: ~$450 million
• ETF outflows (June 22): $68.3 million
• Ethereum: Fell to $1,561.08 by 12:37 PM ET (down 2.8%) 

Related Stocks and Assets Moving With Bitcoin

Bitcoin’s June 26 price action is closely linked to moves across tech and crypto-adjacent equities:

• Strategy / MicroStrategy holds 500,000+ BTC; stock under pressure as BTC approaches cost basis levels
• Coinbase Global (NASDAQ: COIN) exchange revenue is directly tied to BTC trading volumes
• NVIDIA AI chip demand competes with crypto mining capital flows
• MicroStrategy-linked ETFs amplified exposure to BTC price swings
• XRP (XRP-USD): $1.03, down 3.60%; Solana (SOL-USD): $66.36, down 1.81%

Bitcoin’s $59,900 hold on June 26, 2026, is fragile. With PCE at a three-year high of 4.1%, the Fed locked at 3.50-3.75%, and ETF outflows running six straight weeks, the macro picture offers little relief for BTC until inflation data materially shifts.

Disclaimer:

The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.