Live markets: Bitcoin, ether lead $1 billion liquidation losses as AI trade keeps going

live Updated just now Live markets: Bitcoin, ether lead $1 billion liquidation losses as AI trade keeps going A liquidation flush took bitcoin to its lowest since early June before Micron's blowout earnings and SK Hynix's U.S. listing plans steadied the AI trade that crypto had been sliding alongside. By Shaurya Malwa Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email just now · 6:01 AM Shaurya Malwa Share Share this post Copy link X icon X (Twitter) LinkedIn Facebook Email Bitcoin touched $59,000 overnight, then bounced as AI chip stocks recovered Bitcoin dropped to $59,175 overnight, its lowest point since early June, before recovering to about $61,500 by Thursday morning, per CoinDesk data. Nearly $1 billion worth of futures positions were liquidated across crypto majors, such as bitcoin, ether, solana, and others, to tokenized versions of stocks, such as Micron Technology Inc (MU) and Sandisk (SNDK). The dip triggered roughly $430 million in long liquidations on bitcoin-tracked futures, or bets on higher prices that were automatically closed as the price fell. No single catalyst drove the move. Bitcoin has lost about 10% since Monday's peak near $65,500, pulled lower by the same forces that have dominated all week: a hawkish Fed, six straight weeks of ETF outflows, thinning summer liquidity, and a quarter-end options expiry on June 30 that traders say is keeping the market unstable. Major market-maker Wintermute had flagged $59,000 as the bear-market low to watch in its Tuesday's note. The bounce came from outside crypto. Micron Technology reported quarterly earnings after the close that shattered analyst estimates, sending its shares sharply higher and lifting the broader memory chip complex. SK Hynix separately disclosed plans for a U.S. stock listing seeking roughly $29 billion, one of the largest offerings ever. Samsung and Kioxia rallied in Asia Thursday morning. The same AI chip trade that sent the Kospi down 10% on Monday on fears the spending boom was stalling is now the thing steadying crypto, with Micron's results reading as confirmation that demand for AI memory is structural, not speculative. The quarter-end remains the week's live risk. Bitcoin's $59,000 low held, but $1.6 billion in leveraged long positions sit clustered below $58,000, per CoinGlass, meaning a break there would accelerate the drop. Thursday's PCE inflation print, the Fed's preferred price gauge, is the next data point that could move the market in either direction. Latest Crypto News 1 MemeCore's M token suddenly crashes 80% with no clear trigger 26 minutes ago 2 Ripple's RLUSD stablecoin goes live in Japan after regulatory approval 59 minutes ago 3 Bitcoin has a new line in the sand. Thursday’s core PCE could stress test it. 1 hour ago 4 XRP slides 2.8% as weak bounce keeps $1 support in focus 1 hour ago 5 Bitcoin back above $60,000, ETH, SOL recoup losses as AI stocks stage rebound 1 hour ago 6 Upheaval at the Ethereum Foundation has some of crypto’s biggest names feeling bullish 10 hours ago 7 Kalshi targets a massive $40 billion valuation, widening lead over rival Polymarket 10 hours ago 8 Binance withdraws Greek MiCA bid but vows to remain in Europe 12 hours ago 9 Bitcoin falls below $60,000 as AI trade continues to draw investor interest and capital 14 hours ago 10 Crypto Long & Short: Infrastructure is the prevailing currency in digital assets 14 hours ago Latest Research CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. By CoinDesk Research Jun 15, 2026 In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. Why it matters : In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. View Full Report More From Tech Upheaval at the Ethereum Foundation has some of crypto’s biggest names feeling bullish Live markets: Bitcoin claws back some of the losses after Micron beats earnings Vitalik Buterin says Ethereum Foundation will cut budget 40% in major reset