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#BTCProbes60KKeySupportLevel
Bitcoin is testing the most critical support level in the current market, and the battle at $60,000 is shaping the trajectory for every crypto asset tied to its momentum.
As of June 26, 2026, BTC trades at approximately $59,851, down 1.7% over the past 24 hours and roughly 4.5% on the week. The intraday low touched $58,131 on Thursday, a 21-month trough that forced bulls into a desperate defense of the zone that has held since February.
Derivatives Signal Growing Weakness
The derivatives landscape tells a grimmer story.
Approximately $600 million in long positions were liquidated in a single hour during the latest cascade, part of a broader $1.8 billion wipeout across crypto futures over 24 hours.
Open interest has dropped 17.3% to $46.4 billion over 30 days, meaning leverage has been substantially flushed, but retail longs stubbornly hold 70.5% of positioning—a contrarian red flag suggesting many traders are still betting on a bounce that the data does not yet support.
The Fear and Greed Index sits at 13, signaling extreme fear near capitulation conditions.
Technical Outlook
Technically, the picture remains fragile.
Daily RSI dipped to 24.95, entering oversold territory.
Broader RSI across daily and weekly timeframes ranges between 34–43.
MACD remains predominantly bearish, although a minor bullish divergence has appeared on the daily chart—still unconfirmed and insufficient alone to call a reversal.
The 200-week moving average sits at $62,457, serving as the macro pivot.
Bitcoin must reclaim $63,100–$65,000 with improving volume and ETF inflows to shift the trend.
Until that happens, every wick below the June 5 low increases the probability of a deeper move toward $55,000 or even $49,000.
ETF Outflows Continue
US spot Bitcoin ETFs continue to bleed, recording $6.52 billion in outflows over the last 30 days, with 26 of 30 sessions ending negative.
Thursday alone saw $696 million leave the market.
This institutional distribution remains one of the strongest bearish signals currently available.
Strategy Under Pressure
Strategy's $13 billion unrealized loss on its Bitcoin holdings now exceeds the market caps of hundreds of crypto assets, including Dogecoin and Chainlink, highlighting extreme concentration risk at the top of crypto's institutional stack.
MSTR common stock has fallen below $90 for the first time since February 2024.
STRC preferred shares have dropped to around $76, trading at a 24% discount to their $100 par value.
Final Outlook
The path forward is narrow.
Holding $59,000–$60,000 and reclaiming $62,400 could support a stronger quarterly close.
Losing $59,000 decisively opens the door to another liquidation cascade that derivatives data already hints at.
For now, the market remains pinned to the level that will determine whether this correction develops into something far more painful—or whether extreme fear, oversold conditions, and flushed leverage become the foundation for a genuine recovery.
$BTC
Bitcoin is testing the most critical support level in the current market, and the battle at $60,000 is shaping the trajectory for every crypto asset tied to its momentum.
As of June 26, 2026, BTC trades at approximately $59,851, down 1.7% over the past 24 hours and roughly 4.5% on the week. The intraday low touched $58,131 on Thursday, a 21-month trough that forced bulls into a desperate defense of the zone that has held since February.
Derivatives Signal Growing Weakness
The derivatives landscape tells a grimmer story.
Approximately $600 million in long positions were liquidated in a single hour during the latest cascade, part of a broader $1.8 billion wipeout across crypto futures over 24 hours.
Open interest has dropped 17.3% to $46.4 billion over 30 days, meaning leverage has been substantially flushed, but retail longs stubbornly hold 70.5% of positioning—a contrarian red flag suggesting many traders are still betting on a bounce that the data does not yet support.
The Fear and Greed Index sits at 13, signaling extreme fear near capitulation conditions.
Technical Outlook
Technically, the picture remains fragile.
Daily RSI dipped to 24.95, entering oversold territory.
Broader RSI across daily and weekly timeframes ranges between 34–43.
MACD remains predominantly bearish, although a minor bullish divergence has appeared on the daily chart—still unconfirmed and insufficient alone to call a reversal.
The 200-week moving average sits at $62,457, serving as the macro pivot.
Bitcoin must reclaim $63,100–$65,000 with improving volume and ETF inflows to shift the trend.
Until that happens, every wick below the June 5 low increases the probability of a deeper move toward $55,000 or even $49,000.
ETF Outflows Continue
US spot Bitcoin ETFs continue to bleed, recording $6.52 billion in outflows over the last 30 days, with 26 of 30 sessions ending negative.
Thursday alone saw $696 million leave the market.
This institutional distribution remains one of the strongest bearish signals currently available.
Strategy Under Pressure
Strategy's $13 billion unrealized loss on its Bitcoin holdings now exceeds the market caps of hundreds of crypto assets, including Dogecoin and Chainlink, highlighting extreme concentration risk at the top of crypto's institutional stack.
MSTR common stock has fallen below $90 for the first time since February 2024.
STRC preferred shares have dropped to around $76, trading at a 24% discount to their $100 par value.
Final Outlook
The path forward is narrow.
Holding $59,000–$60,000 and reclaiming $62,400 could support a stronger quarterly close.
Losing $59,000 decisively opens the door to another liquidation cascade that derivatives data already hints at.
For now, the market remains pinned to the level that will determine whether this correction develops into something far more painful—or whether extreme fear, oversold conditions, and flushed leverage become the foundation for a genuine recovery.
$BTC