Bitcoin & Ethereum June 24th Complete Market Analysis (2026)

I. Current Price & 24-Hour Market Overview

1. Bitcoin BTC
Current Price: $62,913, down 4.23% over 24 hours, continuously plunging from the $66,000 level today, with a low near $62,000, showing a predominantly weak downward trend throughout the day.
2. Ethereum ETH
Current Price: $1,679, down 5.67% over 24 hours, with a larger decline than Bitcoin, moving in tandem with the overall market weakness. The previously mentioned long liquidation price at $1,886 is now far from the current price, which is well below the liquidation level. All long positions have been triggered and liquidated.
3. Contract Liquidation Data (Key)
Over 130k traders were liquidated in the past 24 hours across the entire network, totaling $659 million in liquidations; of which, longs accounted for $601 million, and shorts only $41.46 million. This decline mainly cleans out previous heavy long retail positions, with high-leverage longs being completely liquidated.

II. Macro Market Bearish Factors (Core Reasons for This Drop)

1. Collective Collapse of Global Risk Assets
US stocks, NASDAQ down 1.91%, semiconductor sector plunging, gold and crude oil also weakening, leading to a collapse in overall risk appetite. Funds are collectively selling off high-volatility speculative assets like cryptocurrencies.
2. Hawkish Expectations from the Federal Reserve
Market expectations for rate cuts are delayed, the US dollar index strengthens, and USD-denominated cryptocurrencies remain under pressure; Bitcoin ETF funds have been flowing out for six consecutive weeks, with institutional spot buying continuing to shrink.
3. US Regulatory Negative News
Negotiations on the "Clear Law" in the Senate have broken down, significantly reducing the likelihood of passage this year; US regulators continue to tighten scrutiny on mining data and pressure exchanges for compliance, causing institutional funds to remain cautious.
4. Severe Capital Flows Diversion
Speculative funds are shifting from crypto to AI tech stocks and commodities. The crypto market lacks new capital inflows, relying only on existing positions, leading to a lack of sustainable rebounds.

III. Key Technical Support/Resistance Levels (Short-term Intraday)

Bitcoin BTC

Resistance Levels (Rebound Pressure Zones)

1. First Resistance: $63,500 (short-term plunge starting point, initial selling pressure on rebound)
2. Strong Resistance: $65,000–$65,600 (middle Bollinger band on daily chart, area of major distribution by bears)

Support Levels (Downside Defense)

1. Short-term Support: $62,000 (today’s low, breaking below opens further downside space)
2. Mid-term Strong Support: $60,000 (annual psychological key level, losing it signals a trend reversal to bear)

Ethereum ETH

Resistance Levels

1. Short-term Resistance: $1,730 (intraday rebound resistance)
2. Strong Resistance: $1,790–$1,886 (liquidation zone for long positions, with significant trapped long sellers above)

Support Levels

1. Short-term Support: $1,630 (today’s lowest test level)
2. Mid-term Support: $1,580 (previous bottom of the recent oscillation, breaking below accelerates decline)

IV. Capital & Contract Sentiment Analysis

1. Long-Short Structure: After the recent liquidation of many longs, market long and short positions are approaching balance, but large traders hold more short positions, limiting short-term rebound strength.
2. Leverage Risks: The total open interest remains high. A 1–3% adverse price movement can trigger chain liquidations again; with $1,000 principal and 10x leverage, a 10% reversal wipes out all; at 20x leverage, just 5% movement causes liquidation.
3. On-chain Funds: Stablecoins show slight net inflows, spot accumulation funds are insufficient, and all rebounds are short-term contract repairs without underlying spot support.

V. Short-term Market Scenario

Bearish Baseline Scenario (Higher Probability)

BTC cannot hold $62,000, ETH drops below $1,630, further declines to BTC $60,000 and ETH $1,580, continuing in a sideways downward channel. Each small rebound is an opportunity for bears to add positions.

Rebound Scenario (Lower Probability)

Global stocks stabilize and rebound, USD weakens, BTC rebounds to $63,500, ETH back above $1,730, but strong resistance at $65,000/$1,8000 makes a quick breakout unlikely. After rebounds, prices are expected to fall back again.

VII. Mid- to Long-term Summary

Currently, Bitcoin and Ethereum are in a secondary correction phase after a bear market recovery, lacking the three main upward drivers: rate cuts, regulatory favorable policies, and large spot buy-ins. In the short term, the market is dominated by bears, with high volatility. Contract trading profits and losses are highly unpredictable, making it unsuitable for retail investors to participate.

VIII. Strategy Recommendations
Short-term short positions: Bitcoin at $63,000 resistance level, observe if broken
Short Ethereum at $1,700, observe if broken

The above reflects personal opinions and is not investment advice.