As of U.S. market close, June 25, Bitcoin (BTC 1.88%) fell 2.0% to $59,413.05, Ethereum (ETH 2.94%) fell 2.9% to $1,559.52, and Solana (SOL 1.34%) fell 1.5% to $66.26.
What’s driving crypto markets
Bitcoin tumbled below $58,000 this morning — its lowest point since September 2024 — as inflation reached a three-year high. The Personal Consumption Expenditures (PCE) index rose 4.1% in May, up from 3.8% in April, adding to fears that the Federal Reserve would raise rates and triggering a broad crypto sell-off. Over $898.18 million in crypto liquidations got liquidated in the past 24 hours. Prices recovered slightly in the afternoon, and dip-buying may drive a further recovery, but the risk-off sentiment dominates.
