# Bitcoin Falls to $61,300 as Long-Term Holders Sell Billions

**Published:** 2026-08-30T08:36:06.536Z  
**Topic:** Bitcoin\\\  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/90e20bc8-cc5f-4d3e-94b6-696aef6a66d1

Bitcoin dropped to $61,300, its lowest since February, down over 25% this month as long-term holders offloaded $2.4 billion and US crypto regulation faces

Bitcoin fell to $61,300 on Wednesday, its lowest level since February, extending a turbulent period for the cryptocurrency as long-term holders liquidated billions in holdings and US crypto regulation faces uncertainty in Washington [2]. The decline has pushed Bitcoin down more than 25% from its high earlier this month and over 30% since the start of the year, making it one of its weakest years relative to other major risk assets [2].

| At a glance | |
|---|---|
| Current Price | ~$63,000 [2] |
| Monthly Change | Down >25% [2] |
| Key Support Level | $59,000-$60,000 [1] |
| Primary Catalyst | Long-term holder selling, regulatory uncertainty [2] |

## Selling Pressure and Macroeconomic Factors
The current sell-off is notable for its source: long-term holders, defined as investors whose Bitcoin has remained unmoved for at least 155 days, are selling aggressively [2]. These holders had largely remained dormant from February through April but offloaded approximately $2.4 billion in the first few days of June [2]. A significant portion of this selling came from investors who had bought Bitcoin above $90,000 [2].

The decline also reflects broader macroeconomic uncertainty and cautious investor positioning [1]. Investor focus has shifted back to the prospect of tighter US monetary policy, with traders pricing in three rate hikes this year and a 64% probability of a September increase according to the CME FedWatch Tool [1]. The US dollar has also remained firm, heading for a second consecutive monthly gain, which typically reduces demand for alternative assets for overseas investors [1]. Geopolitical uncertainty, including ongoing discussions between Washington and Tehran, continues to influence sentiment [1].

## Market Sentiment and Technical Levels
Bitcoin futures fell more than 1% to $59,580.20 on Tuesday, June 30, remaining below the "psychologically important" $60,000 mark [1]. The cryptocurrency has been unable to sustain a recovery above $60,000, a level that has acted as both support and resistance throughout the year [1]. While Bitcoin found buying interest around this zone in February and early June, rallies proved short-lived [1].

The sell-off has spread to the derivatives market, with Volmex's 30-day implied volatility index (BVIV) climbing to 57.4, its highest reading since early April, as traders bought protective options [2]. US-listed spot Bitcoin ETFs recorded their thirteenth consecutive day of outflows on Wednesday, with investors pulling an additional $50 million [2].

Analysts note that Bitcoin remains trapped in a narrow trading range despite improving risk sentiment from lower crude oil prices and a US-Iran ceasefire agreement [1]. A sustained move above $61,000 could attract fresh buying interest, while $59,000 remains an immediate support level [1].

| Bitcoin Key Levels | |
|---|---|
| Immediate Resistance | $61,800 - $62,500 [1] |
| Immediate Support | $59,000 [1] |
| Crucial Support Zone | $58,000 - $59,000 [1] |
| Next Support Level | $55,000 - $56,000 (if $58,000 breaks) [1] |

Ethereum has also shown weakness, failing to hold above its nine-day exponential moving average and remaining in a corrective phase [1]. Immediate resistance for Ethereum is between $1,650 and $1,670, with a fall below $1,500 potentially leading to the $1,400-$1,450 zone [1].

## Regulatory Hurdles
Bitcoin's market troubles coincide with uncertainty surrounding US crypto regulation [2]. The Digital Asset Market Clarity Act (CLARITY Act), a key priority for the industry, is struggling to pass in the US Senate [2]. The bill, which aims to divide oversight between the SEC and CFTC, won approval from the Senate Banking Committee on May 14 but still faces hurdles, including reconciliation with a separate version from the Senate Agriculture Committee [2].

The legislative calendar presents a pressing problem, with only about eight weeks of Senate floor time remaining before lawmakers recess for midterm election campaigning [2]. The bill competes for attention with several other must-pass bills [2]. US Treasury Secretary Scott Bessent urged senators to pass the CLARITY Act before the summer recess [2].

## What to watch
*   **US Economic Data:** Upcoming June ADP employment report and nonfarm payrolls, as well as Fed Chair Warsh's speech, could signal future liquidity conditions [1].
*   **Bitcoin Support Levels:** Monitor whether buyers can defend the crucial $59,000-$60,000 support zone [1]. A decisive break below $58,000 could accelerate losses [1].
*   **CLARITY Act Progress:** Observe the progress of the Digital Asset Market Clarity Act in the US Senate, particularly given the limited legislative calendar and disagreements between committees [2].

With expectations of tighter monetary policy, subdued trading volumes, and cautious institutional participation, Bitcoin's near-term direction will likely depend on these macroeconomic and regulatory developments [1].

## Sources
1. Mint — [Bitcoin price falls below $60,000 again: Experts reveal key levels to watch for the cryptocurrency - What lies ahead?](https://www.livemint.com/market/cryptocurrency/bitcoin-price-falls-below-60-000-again-experts-reveal-key-levels-to-watch-for-the-cryptocurrency-what-lies-ahead-11782792225571.html)
2. Euronews — [Bitcoin falls to $61,000, down more than 25% this month as long-term holders sell](https://www.euronews.com/business/2026/06/04/bitcoin-falls-to-61000-down-more-than-25-this-month-as-long-term-holders-sell)

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Cite as: TrendWatcher, "Bitcoin Falls to $61,300 as Long-Term Holders Sell Billions", https://www.trendwatcher.in/article/90e20bc8-cc5f-4d3e-94b6-696aef6a66d1