Bitcoin falls below $60,000 as weekly losses deepen
Bitcoin price falls below $60,000 as crypto selling deepens and stocks slide See the key drivers behind the drop and what it could mean for investors
Bitcoin fell below $60,000 on Friday, reaching its lowest level since October 2024 and extending a steep decline that has weighed on crypto markets this week.
The cryptocurrency touched an intraday low of $59,764.90 before recovering slightly, while related stocks including Strategy and Coinbase also dropped sharply. The move came after Strategy sold a small amount of bitcoin holdings, adding to negative sentiment and triggering liquidations across the market.
Analysts pointed to a mix of factors behind the slide, including strongerthanexpected U.S. jobs data that pushed yields higher, sustained outflows from bitcoin exchangetraded funds, and a shift in investor attention toward artificial intelligence and chip stocks. The report also noted that bitcoin’s price has diverged from broader equity markets in recent weeks, raising questions about its usual market role.