Serious 'Cascade' Crash Warning Issued As Bitcoin Price Suddenly Plunges

Bitcoin’s sharp drop to $60,000 has prompted warnings of a potential price “cascade” toward $54,000–$56,000 if trading breaks and holds below that level. Analysts cited by Bitfinex said the downside could accelerate through “negative gamma,” with Friday’s $10.6 billion quarterly options expiry described as a possible magnet for price action. The move also comes as bitcoin has decoupled from high-growth technology stocks that it previously tracked. Meanwhile, U.S. President Donald Trump refused to sign a bipartisan housing bill that includes a four-year ban on central bank digital currency (CBDC) rules, tying the decision to passage of the “Save America Act.” The dispute adds regulatory uncertainty ahead of the looming July 4 deadline for the “Clarity Act,” a crypto market structure bill widely viewed as important for recovery.