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Bitcoin cracks $60,000, sinking to lowest level since October 2024
Strategy turned seller as spot bitcoin ETF outflows, higher rate expectations and AI-trade rotation pressured the cryptocurrency market.
- Bitcoin fell below $60,000 on Friday, reaching its weakest level since October 2024. The cryptocurrency has dropped nearly 20% this week and sits more than 52% below its October peak above $126,000.
- Michael Saylor's Strategy, Bitcoin's largest buyer, has turned seller, while persistent ETF outflows and Federal Reserve rate hike expectations have pressured the crypto market.
- Investors are rotating capital from crypto into the artificial intelligence trade, with Dogecoin and Shiba Inu each falling about 9 percent as selling intensified in speculative assets.
- The Nasdaq is lower by more than 2% Friday, reflecting broader market weakness. Privacy-focused Zcash plunged more than 40% overnight following discovery of a critical vulnerability.
- Crypto investors face renewed concerns regarding whether artificial intelligence and quantum computing could expose weaknesses in protocols, adding technical risk to the volatile digital asset sector.
Insights by Ground AI
13 Articles
13 Articles
Cryptocurrency has lost more than half of the value since the October peak, pressed by looting in ETFs, geopolitical tensions and speculative appetite migration for artificial intelligence-related assets
·Brazil
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Bitcoin drops below $60,000, its lowest level since October 2024: Here's why
Bitcoin fell below $60,000, its lowest level since October 2024, amid ETF outflows, geopolitical uncertainty, and concerns over corporate crypto treasury demand. Other cryptocurrencies also declined sharply, with Ether falling 12 per cent
·New Delhi, India
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Bitcoin Falls Below $60,000 for First Time Since 2024 Trump Win
Bitcoin fell below $60,000 for the first time since October 2024, extending its reversal from market darling after the reelection of US President Donald Trump to a casualty of a rapidly changing speculative landscape.
·New York, United States
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Total News Sources13
Leaning Left4Leaning Right3Center5Last UpdatedBias Distribution42% Center
Bias Distribution
- 42% of the sources are Center
42% Center
L 33%
C 42%
R 25%
Factuality
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