Bitcoin drops nearly 20% in June as $715M in crypto long positions are wiped out

Bitcoin briefly fell to a new year-to-date low of $58,035 on Thursday morning before bouncing back to trade roughly flat around $59,500. Although it recovered its 24-hour losses, intraday trading showed sharp volatility and choppy price swings. The move underscored how quickly sentiment can shift as prices whipsaw around key levels.