Bitcoin Hits Rock Bottom at $58k Amid $1B Liquidations

Bitcoin's price plummeted to its lowest level since September 2024, hitting the $58,000 range in a historic sell-off that triggered over $1 billion in liquidations within 24 hours.

XWIN had warned of mounting selling pressure from miners and deteriorating demand several months prior to this event, but data also revealed that more than 11 million BTC are now underwater - a level seen near major market bottoms in 2019, 2020, and 2022.

Long-term holders remained largely inactive during the crash, while accumulation addresses continued to add Bitcoin, suggesting whales were absorbing panic selling.

CryptoQuant Certified Analyst Carmelo_Alemán noted that $54,900 is a critical support zone where Realized Price, mining cost, and MVRV converge, and XWIN shares this view. If liquidity indicators such as ETF flows, Coinbase Premium, and Apparent Demand begin to recover around this level, it could become the foundation for Bitcoin's next major cycle.