Bitcoin Falls to 21-Month Low of $58,131 Amid Broader Crypto Market Decline
By
Ty Roush
Summary
Bitcoin fell to $58,131, its lowest level since September 2024, extending a 6.6% weekly decline. The broader crypto market also saw significant losses across major coins including Ethereum, XRP, Solana, and Dogecoin. The downturn comes ahead of $10 billion in bitcoin options expiring on Deribit, which could increase volatility. Bitcoin has lost more than half its value since peaking last fall.
Source
bskyBitcoin Falls to 21-Month Low of $58,131 Amid Broader Crypto Market Declineforbes.comKey quotes
· 3 pulledThe price of bitcoin fell to an intraday low of $58,131 on Thursday, its lowest level since September 2024, before paring losses, down just over 2.6% over the last day to around $59,460.
That extends a 6.6% decline for bitcoin over the last week, with further losses for ethereum (down 9.%), BNB (6%), XRP (10.8%), Solana (6.5%) and the meme coin Dogecoin (12.6%).
Another intraday slide for bitcoin comes as $10 billion in options are set to expire Friday on Deribit, the world's largest crypto options venue, according to Bloomberg, which could spur increased volatility as investors close o
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