Nearly $1 billion in crypto futures were liquidated in 24 hours as bitcoin dipped below $60,000. Funding rates turned negative, signaling traders are betting on further downside. Bitcoin bounced to $61,000 but bearish positioning remains entrenched across major tokens.
Massive liquidations, negative funding rates, and persistent bearish positioning point to continued downside pressure. However, the relief bounce and pullback in implied volatility suggest the market is not in freefall.
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Last updated 26 Jun 2026