Crypto June 26: BTC under $60K after PCE inflation

Global crypto market on June 26: Bitcoin settles below $60,000

On Friday, June 26, the cryptocurrency market's decline continued, with Bitcoin settling below the $60,000 mark after U.S. inflation data spiked to a three-year high. The coin opened trading at around $59,707 - down 2.1% from the previous day - and slid to around $58,200 at its intraday lows, approaching its lowest level since September 2024. Ethereum's drop was even steeper, opening at $1,565 (-3.4%). The direct trigger was Thursday's PCE inflation index - the Federal Reserve's preferred inflation gauge - which reached a three-year high and revived talk of a possible interest rate hike. At the same time, roughly $10.63 billion worth of Bitcoin and Ethereum options expired on Deribit on Friday, and the Fear & Greed Index sank deep into the extreme-fear zone.

Market overview

All week long, Bitcoin and Ethereum opening prices have come in consistently lower than the day before, and Friday only intensified the trend. Following Thursday's PCE inflation index, which surprised with a three-year high, Bitcoin opened below the $60,000 mark and Ethereum below $1,600. Bitcoin opened at around $59,707, slipped to about $59,380 by 8:15 a.m. Eastern Time, and reached around $58,200 at its intraday lows.

Compared with recent reference points, the decline is pronounced: Bitcoin's opening price was about 5.1% lower than a week earlier, about 22.7% lower than a month earlier, and about 44.4% lower than a year earlier. The coin now trades roughly 53% below its October 6, 2025 record ($126,198). June overall has been brutal - Bitcoin has fallen about 18.8% since the start of the month, and Ethereum about 21.9%.

The key drivers remained mutually reinforcing: prospects of higher interest rates after the hot inflation report, continued spot Bitcoin ETF outflows, and capital rotation away from cryptocurrencies. Total crypto market capitalization shrank, while Bitcoin dominance held at around 57%. The Fear & Greed Index fell to about 16 points - deep in extreme-fear territory - while the seven-day average was around 20.

Top 15 coins on June 26

On a down day, nearly all top coins lost value, following the downward direction of Bitcoin and Ethereum.

1. Bitcoin (BTC) ▼ ~$59,400 (-2.1% at open)

Bitcoin settled below the $60,000 support, opening trading at around $59,707 and reaching about $58,200 at its intraday lows - close to its lowest level since September 2024. Technical indicators remained weak, with RSI deep in oversold territory. Key support now sits at around $58,000, with resistance at the just-lost $60,000 threshold.

2. Ethereum (ETH) ▼ ~$1,543 (-3.4% at open)

Ethereum opened trading at $1,565, down 3.4% from the previous day, and slid to around $1,543 by morning trading. Compared with reference points, ETH was 8.5% lower than a week earlier and 25.9% lower than a month earlier. The coin still trades far below its August 24, 2025 record ($4,954).

3. Tether (USDT) ◆ ~$1.00 (stable)

USDT held parity, continuing to serve as the market's liquidity backbone. Its market cap reached around $188 billion, cementing Tether's dominance in the stablecoin segment.

4. XRP ▼ ~$1.04 (-2.5% on the day)

XRP slid to around $1.04, following the broader market decline. Market attention remains focused on regulatory developments in the U.S.

5. BNB ▼ ~$553 (-1.5% on the day)

BNB retreated to around $553, showing relative resilience amid the overall risk-off sentiment.

6. Solana (SOL) ▼ ~$65.5 (-3.0% on the day)

Solana slid to around $65.5. The higher-beta asset remained sensitive to selling pressure under bear-market conditions.

7. USDC ◆ ~$1.00 (stable)

USDC held a stable parity, with a market cap of around $73.7 billion - a regulated liquidity alternative amid volatility.

8. Dogecoin (DOGE) ▼ ~$0.077 (-2.5% on the day)

DOGE slid to around $0.077, following broader altcoin sentiment.

9. TRON (TRX) ▼ ~$0.278 (-1.0% on the day)

TRON held up relatively well around $0.278, reflecting steady demand for network stablecoin transfers.

10. Cardano (ADA) ▼ ~$0.38 (-2.5% on the day)

Cardano slid to around $0.38, following the market decline.

11. Hyperliquid (HYPE) ▼ ~$25.2 (-2.5% on the day)

HYPE retreated to around $25.2, although the decentralized-exchange segment retained relative resilience.

12. Chainlink (LINK) ▼ ~$10.3 (-2.8% on the day)

Chainlink slid to around $10.3, following the broader market direction.

13. Stellar (XLM) ▼ ~$0.293 (-2.5% on the day)

XLM traded around $0.293 with a downward bias on the day.

14. Avalanche (AVAX) ▼ ~$15.0 (-2.5% on the day)

Avalanche retreated to around $15.0, following the overall market decline.

15. Toncoin (TON) ▼ ~$2.29 (-2.5% on the day)

Toncoin slid to around $2.29, closing out the top 15 list.

Stablecoins

Stablecoins once again played their safe-haven role during volatility. USDT and USDC held parity, and their turnover stayed high as traders moved capital into less risky assets in the falling market. Tether's market cap rose to around $188 billion, while Circle's USDC stood at around $73.7 billion, reinforcing Tether's leading position. Total stablecoin market cap remained near its all-time high, signaling that capital is mostly staying within the crypto ecosystem - moving to safer ground rather than leaving altogether.

NFT market

The NFT market stayed quiet, reflecting the overall risk-off sentiment. Trading volumes across leading collections and platforms remained low, as investors focused on more liquid assets. The broader digital-art and collectibles segment continues to operate well below its 2024-2025 activity peaks, although some blue-chip collections maintain a stable price floor.

ETF flows and options expiry

Spot Bitcoin ETF flows remained one of the main drivers of the decline. The products logged a sixth consecutive week of outflows - the longest such streak on record - with about another $228 million leaving during the shortened week and cumulative six-week outflows reaching around $5.94 billion. On Thursday, June 25, the single-day net outflow was around $692 million - the largest since May 27.

Friday was also a major quarterly options expiry: roughly $10.63 billion worth of Bitcoin and Ethereum options expired on Deribit, of which about $9.06 billion was Bitcoin and about $1.57 billion Ethereum. Both assets' prices sat far below their "max pain" levels (Bitcoin $70,000, Ethereum $2,000), and about 80% of positions expired worthless. Bitcoin's put-to-call ratio was 0.63, while Ethereum's was 0.50.

Privacy coins

The privacy-coin segment was not at the epicenter of major events on this day and followed the broader market's downward sentiment. Regulatory pressure on anonymous assets persists, but with no significant new developments on June 26, this segment traded quietly, in line with the broader altcoin decline.

Security incidents

No major large-scale security incidents or protocol hacks were reported on June 26. Earlier in the week, the industry was shaken by the draining of the "Jared from Subway" MEV bot for around $15 million, but there were no new large-scale incidents on Friday. Investors are still advised to exercise caution, using only trusted platforms and protecting their private keys, especially amid heightened volatility.

Regulatory news

Contrary to the market's gloomy mood, there was positive news on the regulatory front. Federal Housing Finance Agency (FHFA) Director William Pulte ordered Fannie Mae and Freddie Mac to prepare to count cryptocurrency as an asset in mortgage applications. Unlike the previous requirement to first convert crypto into dollars, the new directive provides for it to be considered as a standalone reserve asset. In parallel, lenders Better and Coinbase issued the first crypto-backed conventional mortgage. At the same time, the CLARITY Act - which sets the market structure for the U.S. crypto industry and whose progress in the Senate directly affects market sentiment - remained in focus.

Macroeconomic context

The macroeconomic environment remained the main headwind for cryptocurrencies. Thursday's PCE inflation index - the Federal Reserve's preferred inflation gauge - reached a three-year high, reviving talk of a possible interest rate hike. Prospects of higher rates and a strong U.S. dollar continue to steer capital away from risk assets. Traders continue to closely watch central bank signals and upcoming macroeconomic data. While current sentiment is cautious, historically extreme-fear periods have been associated with market bottoms forming, meaning the present level may prove significant for long-term investors.

Key figures - June 26

• Bitcoin: ~$59,400 (-2.1% at open), intraday low ~$58,200 - close to its lowest since September 2024
• Ethereum: ~$1,543 (-3.4% at open)
• Bitcoin dominance: ~57%
• Fear & Greed Index: ~16 (extreme fear)
• BTC vs. reference points: -5.1% weekly, -22.7% monthly, -44.4% yearly
• Options expiry (Deribit): ~$10.63B (BTC ~$9.06B, ETH ~$1.57B), ~80% worthless
• Spot Bitcoin ETF: 6th consecutive outflow week, ~$228M; ~$5.94B cumulative
• Stablecoins: USDT ~$188B, USDC ~$73.7B
• Regulation: FHFA orders Fannie Mae/Freddie Mac to count crypto as a mortgage asset

This article was prepared by artificial intelligence and was reviewed and fact-checked by the Norriwire editorial team. It is not financial advice. Cryptocurrency markets are extremely volatile - always do your own research before making decisions.

Sources

• Yahoo Finance - Bitcoin and ethereum prices today, Friday, June 26, 2026
• BeInCrypto - $10.63 Billion Bitcoin and Ethereum Options Expire as Markets Search for a Bottom
• The Block - Spot bitcoin ETFs log sixth consecutive week of net outflows
• Milk Road - Crypto Fear & Greed Index for June 26th, 2026
• Fox Business - FHFA tells Fannie Mae, Freddie Mac to consider crypto as mortgage asset
• Decrypt - Tether Asserts Stablecoin Dominance Over Circle's USDC