Bitcoin fell below $60,000 on June 24, chilling sentiment across the crypto market as Barstool Sports founder Dave Portnoy aired a bearish view. Portnoy said bitcoin appeared to be heading toward zero and demanded explanations from investors who have argued it will rise to $1 million. Markets slid with bitcoin down 4.2 percent intraday. Liquidations totaled $869.39 million, mostly from long positions. Analysts cited ETF outflows and weak demand.

Bitcoin is struggling to find direction near $64,000, with a stronger U.S. dollar and upcoming inflation data seen as key drivers this week. The dollar index has moved back above 100, weighing on risk assets. Investors are watching the Fed’s preferred PCE inflation gauge, GDP revisions and jobless claims, as well as a sharp drop in oil after a U.S.-Iran peace deal. Traders are also focused on July seasonality, $60,000 support and short-term holder selling.