Bitcoin Plunges to $58K Amid $1.26B Liquidation Cascade
Bitcoin plunged to $58,000 on June 26 as cryptocurrency markets experienced one of 2026’s most severe liquidation cascades, with $1.26 billion in positions wiped out across 209,000 traders in a single 24-hour window. The collapse coincided with $10.6 billion in Bitcoin options expiring on Deribit on June 27, creating a perfect storm of leveraged deleveraging…