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The crypto market crash has intensified with over $1 billion in liquidations over the last 24 hours. With this fall, the crypto market has eroded more than $2 trillion of investors’ wealth in just the past 8 months.
Since then, the sector is down by 50%. Bitcoin (BTC) price has also struggled to keep the upside momentum going. It is down to the crucial support of $60,000 again.
Crypto Market Investors Lose 50% Wealth in 8 Months
As the crypto market crash intensifies, analysts at The Kobeissi Letter highlighted the scale of the downturn. They noted that just in the last 8 months, the market has lost more than half of its value.
According to the analysis, the total cryptocurrency market capitalization peaked at approximately $4.3 trillion on Oct. 6, 2025. As of today, the market is valued at roughly $2 trillion. This represents a decline of about 54% over a span of 261 days.
Through this downturn over the past eight months, the crypto market has lost over $8.8 billion in value on a daily basis. This comes despite the S&P 500 making record highs during this period. Thus, the digital assets market is now looking for a new catalyst for recovery.
Per the Coinglass data, more than $1 billion in leveraged positions have been wiped out amid the recent market rout. Of this, more than $780 million has been in long liquidations.
According to market data, over 178,000 traders were liquidated during the period. The long positions accounted for the majority of losses. The selloff pushed Bitcoin to an intraday low of $59,175, marking its weakest level since early June.
Crypto Market Crash: Can BTC Price Fall to $50,000?
As per the prediction market platform Polymarket, the odds of Bitcoin price falling to $50,000 have increased. The data shows that by the end of 2026, there’s a 64% chance that BTC price can reach $50,000. Interestingly, there’s also 45% for the BTC price to go even lower than $45,000.
The latest BTC price drop comes on the fear that Michael Saylor’s MicroStrategy could possibly sell BTC holdings. They may do so to support the company’s dividend coverage. The MSTR stock price also crashed under $100 during Wednesday’s trading, leaving scars across the entire crypto market.
BTC price has bounced back after hitting the lows of $59,000 earlier today. But analyst Ted Pillows believes that this bounce-back is largely driven by the covering of short positions getting closed. He added that the spot demand needs to rise, pushing BTC above $65,000.
Another analyst, Michael van de Poppe, said that he would wait for the weekly closing in BTC price. If it closes above 200-WMA, the bull trend will remain intact.
BlackRock On Bitcoin Selling Spree
Crypto exchange BlackRock is on a Bitcoin selling spree through its ETF iShares Bitcoin Trust (IBIT). On Wednesday, June 24, BlackRock sold a total of 4,010 Bitcoins, worth nearly $240 million.
Despite the outflows, the fund generated approximately $2.9 billion in trading volume. This shows high investor activity around the Bitcoin product.
As per the Farside Investors data, the net outflows across all the US ETF issuers surged to $460 million. Throughout this month of June, the outflows have dominated the inflows by a wide margin.
