The financier announced the transition of bitcoin under the pressure of algorithmic sales

Bitcoin continues to trade in the pressure zone — at 10:48 Moscow time on June 19, the BTC/USDt exchange rate is $62,534. After breaking through the intraday support level of $63,600 on Thursday, June 18, the market entered an automatic sell-off phase when algorithmic systems intensified the downward movement. This was stated to Izvestia by Andrey Loboda, a member of the RASO and the commission on mining and blockchain technology of the Finance and Investment Committee of the CCI of the Russian Federation.

According to him, after the breakdown of the level, a chain reaction began: algorithms began to open short positions, which led to the liquidation of long positions worth about $137 million in bitcoin and about $ 400 million across the entire crypto market.

"It's not a panic or a disaster — it's just mechanics. We broke through the level, the algorithm worked, and took out long positions," the expert explained.

In the current situation, the market is focusing on the next significant support — the level of $ 61 thousand, where a local rebound is possible. In case of buyers, the nearest defensive stops may be located below $ 59 thousand.

Loboda noted that the situation remains fundamentally stable. He pointed out that the policy of the US Federal Reserve System is still "hawkish", and institutional demand remains weak. An additional factor is the macroeconomic conditions: Lower oil prices may support the market, but with a time lag.

According to Loboda, significant growth drivers in the market are unlikely to appear before the fall, so in the near future the key benchmark for participants will remain the level of $ 61 thousand. as the main milestone during weekend trading.

One bottom: is it worth buying Bitcoin, which has started to grow

And how is the collapse of the cryptocurrency in early 2026 radically different from the previous ones?

Deputy Finance Minister Ivan Chebeskov announced on June 16 that unqualified investors in Russia will soon be able to legally buy bitcoin, ether and popular stablecoins. After almost ten years of discussions and disputes, including the idea of a total ban, the authorities are moving to comprehensive regulation of the cryptocurrency market.