Crypto News Today: Bitcoin Price Crashes to 20-Month Low as Policy Uncertainty Mounts

Crypto news today, on June 25, is mostly not positive for traders. Bitcoin is now trading near a 20-month low around $60,000. Ethereum is well below $1,700. Altcoins are bleeding across the board.

The market continues its downward spiral. Let us have a look at the main crypto news today driving this selloff.

A big, concentrated wave of long liquidations acted as the primary catalyst for today’s drop. Bitcoin liquidations surged 192% in 24 hours to $397.16 million, with long positions accounting for over 80% of the total.

This forced selling created a feedback loop. As crypto prices dropped, more longs got liquidated, pushing prices through critical support. Ethereum and altcoins followed Bitcoin down, amplifying the selloff.

Several pieces point to spot Bitcoin ETF outflows as a key structural driver. BTC ETFs are on pace for a seventh straight week of net redemptions. Assets have fallen from about $113 billion to $77.5 billion in ETF holdings.

That is a massive reduction in institutional demand. At the same time, macro sentiment has turned risk-off. Investors are rotating into AI and chip stocks. Rising rate uncertainty makes volatile assets like Bitcoin less attractive.

• Santiment Report: CBDC Ban Advances, Clarity Act Delayed
• Chart Analysis: Social Volume Spikes on CBDC and Clarity Act
• Ethereum: Supply Tightens, Upgrade Coming
• Coinbase Secures MiCA License
• Chinese Bitcoin Miner Sees $42K-$44K Bottom
• Our Take on Today’s Crypto News
• FAQs

Santiment Report: CBDC Ban Advances, Clarity Act Delayed

Santiment reported today that crypto’s latest policy debate has quickly become one of the biggest stories traders are watching. U.S. crypto policy is getting messy.

Congress advanced a Federal Reserve CBDC ban through 2030. Both the Senate and House have blocked the Fed from launching a retail CBDC. Bitcoin supporters called it a major win for financial privacy and permissionless money.

But as usual in Washington, the story did not stay simple for long. President Trump delayed signing the bill over unrelated political demands. Even good news for crypto can get slowed down by broader political battles.

The CLARITY Act is also stuck. A hearing is scheduled for July 17, but law enforcement groups are pushing back on Section 604. The bill has been “kicked down the road” for almost a year.

Chart Analysis: Social Volume Spikes on CBDC and Clarity Act

The two Santiment charts attached to this report show social volume spikes around these policy events.

First Chart (CBDC): The chart tracks mentions of “CBDC” from late March to late June 2026. The social volume line shows a sharp spike around mid-June, coinciding with the congressional advance of the CBDC ban. The social dominance peaked near 0.136%, meaning discussions about CBDCs briefly dominated crypto conversations.

Source: X/@SantimentData

Second Chart (Clarity Act): The other chart tracks mentions of “clarity AND act” from June 2025 to June 2026. There is a clear spike around June 24-25, 2026, with social volume hitting 992 and social dominance reaching 1.49%. That means traders are intensely focused on the Clarity Act’s fate right now.

Both charts show that the crypto community is paying close attention to policy developments. But social volume alone does not move prices. The market is reacting to the uncertainty.

Source: X/@SantimentData

Ethereum: Supply Tightens, Upgrade Coming

ETH exchange reserves just hit an all-time low at 14.5 million. The staking ratio hit an all-time high at 32.7%, with a 49-day validator queue. That means less ETH available for selling.

ETH/BTC is at 2016 lows. That means Ethereum is underperforming Bitcoin, which is unusual in a bear market.

Glamsterdam devnets are already benchmarking 1.96 Ggas/s with parallel execution live. The team is targeting 200 million gas per block (3.3x current capacity) for Q3 2026. UBS and Nethermind completed a compliance proof-of-concept on Sepolia for tokenized securities settlement that scales directly with L1 throughput.

The market has priced in foundation chaos and priced in zero probability of the upgrade shipping on time. That is a binary bet. If the upgrade delivers, the market is not positioned for it.

Coinbase Secures MiCA License

Coinbase, the largest U.S. crypto exchange, has secured a MiCA license from Luxembourg’s financial regulator CSSF. The exchange will make Luxembourg its European crypto hub.

The license allows Coinbase to offer crypto products and services across all 27 EU member states under a unified regulatory framework. That covers about 450 million people.

This is positive news for adoption, but it has not moved the market today. The broader macro and liquidation pressures are too strong.

Chinese Bitcoin Miner Sees $42K-$44K Bottom

Jiang Zhuoer, one of China’s best-known Bitcoin miners, predicted that the current BTC bear market may bottom between October and December 2026. His price target: $42,000 to $44,000.

He noted that Strategy’s mNAV has fallen to 0.72, close to the 0.7 low seen during the previous bull-to-bear transition in May 2022. Jiang argued that an mNAV bottom does not usually mean BTC bottoms at the same time. BTC hit its final low about six months after MSTR’s mNAV bottom in the last cycle.

That would mean the worst is not yet over.

Our Take on Today’s Crypto News

Crypto news today is a mix of policy uncertainty, liquidation pressure, and bearish predictions. The liquidation cascade was the immediate trigger for today’s drop. ETF outflows are the structural driver.

The policy environment is messy. A CBDC ban is good news, but Trump delayed signing it. The Clarity Act is stuck. Uncertainty dominates.

Ethereum’s supply tightening and upcoming upgrade offer hope, but the market is pricing in zero probability of the upgrade shipping on time. That is a binary bet.

Coinbase’s MiCA license is positive but not enough to move markets right now.

The Chinese miner’s $42K-$44K bottom call is sobering. That would mean another 30% drop from current levels.

For traders, the short-term outlook remains bearish. Long liquidations, ETF outflows, and policy uncertainty are all working against Bitcoin and crypto. The next key date is July 17 for the Clarity Act hearing.

FAQs

 **Why is Bitcoin price crashing today❓**

A wave of long liquidations saw $397 million in Bitcoin positions wiped out in 24 hours. Combined with seven straight weeks of ETF outflows and policy uncertainty, selling pressure has overwhelmed the market.

 **What is the CLARITY Act hearing about❓**

A hearing is scheduled for July 17. The bill faces opposition from law enforcement groups concerned about oversight gaps and KYC/AML exemptions.

 **How long will it take crypto to recover❓**

A recovery likely requires a reversal of ETF outflows and clarity on the Clarity Act, with the July 17 hearing as the next major catalyst. Based on historical patterns and current macro headwinds, a genuine bottom may not form until late 2026, with some miners targeting $42,000-$44,000 in Q4.