Bitcoin (BTC) is once again approaching its yearly low near $59,000 after a failed recovery attempt left bulls unable to reclaim key resistance levels. BTC traders are now anticipating new lows for 2026 as the price drifts back toward a major support zone.

However, exchange inflows from mid-sized investors across Binance and Coinbase recently dropped to their lowest levels since April 4, easing further selling pressure.

Liquidation data also shows more than $4 billion in leveraged positions concentrated near the $59,000 level, a setup that may lead to a downside liquidity sweep before a recovery rally towards the $68,000 range.

Bitcoin traders target liquidity pocket below $59,000

Bitcoin’s recovery attempt stalled before reaching the daily fair-value gap between $67,500 and $70,500. The sellers regained control near the 50-day and 100-day exponential moving averages, which continue to act as overhead resistance.

The rejection pushed BTC below an ascending channel, confirming a bearish break of structure on the four-hour chart. The price is currently trading below the channel range, with internal liquidity support near $60,700 as the next area of interest, followed by the yearly low at $59,000.

BTC/USD, four-hour chart. Source: Cointelegraph/TradingView

The liquidation data adds weight to that zone. Around $4 billion in cumulative leveraged long positions is concentrated near $59,000. A move into that area could trigger forced selling and flush out late long positions. Beyond that level, the next major liquidity concentration is near $68,000, where more than $4.75 billion in cumulative positions are clustered.

The momentum conditions are also approaching an extreme. The relative strength index (RSI) is hovering near oversold territory. Another push toward yearly lows would likely drive the indicator below 30, a level that may precede a sharp relief bounce after liquidations.

Crypto analyst Killa said Bitcoin could still front-run the liquidity pool below $60,000 rather than fully sweeping it. The trader argued that markets often move in the opposite direction of levels that attract widespread attention, similar to how Bitcoin front-ran liquidity above $140,000 in October 2025. 

BTC trader LP also warned against becoming “too bearish here” in the short term, pointing to a potential bottom forming toward late June.

BTC/USD, one-day chart analysis by LP. Source: X

Related: Bitcoin’s deeply discounted versus AI-stocks, but hawkish Fed risk lingers: Bitwise

BTC exchange inflows continue to decline

According to CryptoQuant analyst Amr Taha, inflows from mid-sized Bitcoin investors declined simultaneously across Binance, Coinbase, and Coinbase Prime on June 19. Binance recorded roughly 3,500 BTC in inflows, Coinbase nearly 3,000 BTC, and Coinbase Prime about 1,700 BTC, the lowest readings since April 4.

BTC exchange inflow structure by mid-size investors. Source: CryptoQuant

Exchange inflows are commonly tracked as a measure of potential selling intent. Lower deposits mean fewer coins are being positioned for immediate sale. This indicates one source of near-term sell pressure has eased.

The trend does not signal new demand on its own. It shows that mid-sized holders are reducing transfers to trading venues as Bitcoin trades near $62,000. For now, the flow data points to lighter exchange-side pressure even as price tests a major liquidity concentration near yearly lows.

Related: Bitcoin tipped for Q3 ‘macro bottom’ near $50K as major liquidity grab looms

Reform UK leader Nigel Farage has been threatened with a referral to the UK’s parliamentary authorities after he allegedly under-declared a private jet donation from billionaire crypto investor Christopher Harborne.

The threat came from Labour Chair Anna Turley, who wrote to Farage claiming that the donation he declared doesn’t match the market rates of private jet flights. 

Farage took the private jet to the Chagos Islands earlier this year, where he attempted to undermine a UK sovereignty deal. He originally declared Harborne’s donation as £12,500 ($16,500), but later adjusted it to £25,000 ($33,500). 

Turley claims that the cost of hiring the jet, and the 23-hour duration of his flight, mean his trip should’ve cost anywhere between £189,000 ($250,000) and £529,000 ($700,000).

She told Farage, “If you fail to provide anything less than a full and accurate account, I will be obliged to raise the matter with the Parliamentary authorities.”

Farage lobbied the Bank of England on crypto regulation

Turley then went after the controversial right-wing politician again, reportedly referring him to a UK financial regulatory body. 

In this case, during a private meeting in September 2025, he allegedly urged Bank of England Governor Andrew Bailey to shelve plans for a state-backed stablecoin dubbed “Britcoin.”

One month later, Farage said at the crypto event Zebu Live that he would be “prepared to go to prison” in order to stop Britcoin, describing the plans for a state-backed stablecoin as  “total and utter horror.”

The introduction of a state-backed stablecoin would dilute the private stablecoin market and, in doing so, reduce the value of Harborne’s 12% stake in multi-billion-dollar stablecoin giant Tether.

The CLARITY Act has entered another round of Senate negotiations, with Senate Agriculture Committee Chairman John Boozman saying that limited understanding of the bill among lawmakers remains one of the biggest obstacles to its progress.

According to a report from Punchbowl News, senators met on Thursday, June 18, to discuss the next phase of work on the crypto market structure legislation. Much of the proposal falls under the jurisdiction of the Senate Agriculture Committee, placing the panel at the center of efforts to move the bill toward a floor vote.

Speaking after the meeting, Boozman said discussions were advancing but acknowledged that many lawmakers are still unfamiliar with the legislation. He stated that most members do not fully understand the bill, describing that knowledge gap as a challenge as negotiators attempt to build support across the Senate.

The comments arrive as congressional leaders face increasing pressure to resolve remaining issues before lawmakers leave Washington for the August recess. Several last-minute meetings have been scheduled as Senate offices continue working through outstanding provisions tied to digital asset regulation.

Senate support appears stronger than public debate suggests

While Boozman highlighted concerns about member awareness, separate discussions on Capitol Hill suggest that disagreements over the substance of the legislation may be narrower than they appear.

As previously reported by crypto.news, David Nage, managing director and portfolio manager at Arca, said conversations with Senate offices led him to conclude that lawmakers and industry participants are roughly 80% to 85% aligned on the core elements of the bill.

In Nage’s assessment, stablecoin yield provisions no longer rank among the most contentious issues, despite continued criticism from JPMorgan CEO Jamie Dimon. Instead, Nage said attention has increasingly turned toward ethics and conflict-of-interest rules governing government officials involved in crypto-related business activities.

Following discussions with congressional staff, Nage stated that lawmakers are largely debating how such restrictions should be implemented rather than whether they should exist. He described the remaining divide as a political and enforcement matter rather than a disagreement over digital asset market structure itself.

Under Nage’s base-case scenario, lawmakers would settle the ethics language and reconcile competing proposals in the coming weeks, allowing the legislation to reach the Senate floor after Congress returns from recess on July 13.

Senate timeline remains the key uncertainty

Despite growing optimism from some supporters, the expected timing of passage remains unsettled.

During a recent interview with FOX Business, Senator Bill Hagerty said he hopes Congress can complete work on the legislation before the July 4 recess. Hagerty argued that the measure would provide the regulatory certainty needed for the U.S. digital asset sector to expand domestically rather than abroad.

Earlier, White House crypto advisor Patrick Witt also expressed optimism that lawmakers could approve the bill by Independence Day.

Other lawmakers have pointed to a longer timeline. Senator Cynthia Lummis has said a Senate floor vote before the August recess appears more likely than passage before July 4. Lummis has also noted that the legislation includes $150 million in funding intended to combat illicit cryptocurrency activity.

Supporters of the proposal contend that the bill would define the responsibilities of the Securities and Exchange Commission and the Commodity Futures Trading Commission while establishing compliance standards for digital asset firms.

Lummis has further warned that if Congress fails to advance market structure legislation during the current legislative window, meaningful action on the issue could be postponed until 2030.

SpaceX’s blockbuster public debut has pushed Elon Musk’s net worth above $1 trillion while creating a new class of billionaires among the company’s earliest investors, executives, and institutional backers.

According to CNBC, SpaceX shares remained about 37% above their $135 IPO price even after retreating from post-listing highs, leaving the company with a market capitalization of roughly $2.43 trillion. The valuation surge briefly lifted SpaceX above Amazon and, for a short period, Microsoft, dramatically increasing the value of long-held stakes across its shareholder base.

Before the listing, crypto.news reported that retail investors rushed to secure allocations in the offering, with some reportedly seeking personal and bank loans as demand for shares far exceeded available supply. The scramble unfolded while SpaceX was preparing to enter public markets at a valuation of roughly $1.75 trillion.

For Musk, who controlled about 42% of SpaceX at the time of the offering, the gains were historic. Estimates cited by multiple reports place the value of his SpaceX holdings at more than $750 billion following the IPO. When combined with his interests in Tesla and xAI, several wealth trackers estimated Musk’s net worth briefly reached nearly $1.4 trillion on June 16 before falling back to roughly $1.2 trillion, making him the first person to surpass the trillion-dollar mark.

During the rally, Yahoo Finance data showed SpaceX shares reaching an intraday high of about $225.84 on June 16, pushing the company’s valuation close to $3 trillion. As crypto.news reported earlier, the surge briefly lifted the value of Musk’s holdings above Bitcoin’s market capitalization of roughly $1.31 trillion at the time.

The jump in wealth later drew political attention after Senator Elizabeth Warren argued that the financial system disproportionately rewards the wealthiest Americans while many households continue facing rising costs.

Early investors have emerged as the biggest winners

Among the largest beneficiaries is Antonio Gracias, founder of Valor Equity Partners and a longtime SpaceX board member. CNBC reported that Valor’s SpaceX stake is worth approximately $96.6 billion, although most of those holdings belong to the firm’s clients. Gracias, who has backed Musk’s ventures for years, has seen the value of his investment rise alongside SpaceX’s rapid growth.

Another major winner is Peter Thiel’s Founders Fund. The venture firm became SpaceX’s first institutional investor in 2008, investing while the company was recovering from multiple Falcon launch failures. According to investment records cited in reports following the IPO, Founders Fund invested roughly $600 million across several funding rounds and built a stake of around 3%, which is now worth more than $50 billion.

Alphabet has also recorded one of the largest gains. Google invested approximately $900 million in SpaceX alongside Fidelity in 2015, acquiring a stake that was later diluted to about 6%. Based on SpaceX’s post-IPO valuation, reports estimate Alphabet’s holding at roughly $132 billion, representing a return of nearly 147 times its original investment.

Several other investors also benefited from the listing. Reports indicate that Sequoia Capital’s roughly 1.5% stake has grown to more than $20 billion after investments totaling around $2 billion, while Kingdom Holding, controlled by Saudi Prince Alwaleed bin Talal, holds approximately 42.4 million shares valued at nearly $7 billion.

Executives and employees have shared in the windfall

Beyond institutional investors, the IPO has substantially increased the wealth of long-serving executives. CNBC estimates that SpaceX President and CEO Gwynne Shotwell holds a stake worth about $2.4 billion, making her one of the company’s largest individual shareholders.

Speaking to CNBC on the day of the IPO, Shotwell described her role as supporting Musk’s vision through operational execution while he focuses on strategy and engineering. Former SpaceX engineer Nathan Silvernail told CNBC that Shotwell has played a central role in managing customers, contracts, and daily business operations.

Chief Financial Officer Bret Johnsen has also joined the billionaire ranks. CNBC reported that the executive, who joined SpaceX in 2011 and oversees the company’s financial strategy, holds shares worth roughly $1.2 billion.

The gains have extended well beyond senior leadership. Reports on employee compensation programs indicate that thousands of current and former workers benefited from stock options accumulated over years of private ownership. One example cited in post-IPO coverage involved welder Juan Hernandez, whose employee stock awards reportedly grew from an initial value of about $10,000 to nearly $1 million after the listing.

While the IPO created substantial wealth for investors and employees, some of the initial gains have moderated. SpaceX shares later fell more than 9% from their post-listing highs, trimming Elon Musk’s fortune from its peak as the stock retreated from record levels.

Even as the stock pulled back, Bloomberg reported that SpaceX has explored a bond offering worth as much as $20 billion to refinance a bridge loan due in September 2027. According to Bloomberg, the proposed transaction could become one of the largest corporate debt offerings in recent years, although its final size and timing remain under discussion.

Despite the retreat from peak valuations, SpaceX’s market debut remains one of the largest wealth-creation events in recent corporate history. The listing generated billions of dollars in gains for early venture investors, institutional backers, executives, and employees who accumulated shares during the company’s years as a private business.