Bitcoin Drops Below $60,000 for First Time Since October 2024, Down 53% from Peak
By
Emily Nicolle, Suvashree Ghosh
1mo ago· 1 min readenNews
Summary
Bitcoin has fallen below $60,000 for the first time since October 2024, dropping 7% to $59,101. The cryptocurrency has lost more than half its value since peaking above $126,000 in October, marking a dramatic reversal from its post-Trump reelection rally to becoming a casualty of shifting speculative market conditions.
Source
bskyBitcoin Drops Below $60,000 for First Time Since October 2024, Down 53% from Peakbloomberg.comKey quotes
· 3 pulledBitcoin 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.
The largest cryptocurrency slumped as much as 7% to $59,101 on Friday in New York trading hours.
Bitcoin has lost more than half its value since reaching a peak above $126,000 in October last year and is now worth less than it was when crypto-friendly Trump retook the White House.
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.
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