Live markets: Bitcoin could drop to $59,000 in the short-term as liquidity dries up
CoinDesk 2026-06-24 05:13:27
Context: The cryptocurrency market is experiencing a potential downturn, with Bitcoin's value possibly decreasing to $59,000 in the short term due to dwindling liquidity. This forecast comes from Wintermute's options desk, a trading firm, which has provided a specific price range for Bitcoin on Tuesday. The correlation between various tokens is increasing, and there is currently no fresh bid from Exchange-Traded Funds (ETFs) in sight.
Key Facts
- Wintermute's options desk has projected that Bitcoin's value will fall within a range of $61,242 to $63,563 on Tuesday.
- The trading firm attributes the potential drop in Bitcoin's value to decreasing liquidity in the market.
- The correlation between various tokens is rising, indicating a synchronized movement in their values.
- There is currently no fresh bid from Exchange-Traded Funds (ETFs) in sight, which could be contributing to the potential downturn in Bitcoin's value.
- Bitcoin's value could potentially drop to $59,000 in the short term, according to Wintermute's options desk.