Bitcoin price tumbles below $60,000 to 20-month low as tech rout, rate fears rattle crypto market: What lies ahead?

Bitcoin slipped below $60,000 to around $59,000, its lowest in about 20 months, down 3% in the session as a global tech stock rout and expectations of tighter US monetary policy weighed on risk assets. The move triggered nearly $600 million in crypto liquidations within an hour, with Bitcoin down 32% year-to-date in 2026 and Solana plunging 47%. Analysts cite US PCE inflation hitting three-year highs and an upcoming $10 billion options expiry as near-term catalysts, with $56,000 flagged as critical support.