Bitcoin fell below $60,000 on Friday, marking its lowest price point since October 2024 [1], [2], [3].
This decline signals a significant shift in market sentiment, erasing recent gains and placing the asset more than 52% below its all-time high of $126,000 reached in October 2025 [5].
The price drop was volatile throughout the day. Bitcoin fell five percent to $60,750 before continuing its descent [3]. Reports on the exact floor vary slightly, with some data showing the asset touched $59,764.90 [3], while other reports cited a low of $59,840 [4].
Several macroeconomic factors converged to pressure the cryptocurrency. A stronger-than-expected May jobs report lifted U.S. Treasury yields [7], which typically pressures risk assets. This data fueled fears of potential rate hikes, making non-yielding assets like Bitcoin less attractive to investors [2], [3].
Market-specific pressures also accelerated the slide. Analysts said significant outflows from exchange-traded funds (ETFs) and the impact of a large buyer transitioning into a seller contributed [2], [3]. These internal market dynamics combined with the broader economic climate to trigger a week-long sell-off [6].
The weekly decline is estimated at roughly 17% [3], though some reports suggest the week-long drop was nearly 20% [6]. The sudden volatility has wiped out a rally previously fueled by political expectations surrounding the Trump administration [4].
“Bitcoin fell below $60,000 on Friday, marking its lowest price point since October 2024.”
The current volatility underscores Bitcoin's sensitivity to U.S. macroeconomic indicators, particularly employment data and interest rate expectations. By falling below the $60,000 psychological threshold, the asset has entered a technical territory not seen in over 19 months, suggesting that institutional support via ETFs may not be sufficient to counteract broader shifts in the global risk-off environment.
