Bitcoin Falls Below $60,000 for First Time Since October 2024, Erasing Post-Election Rally
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Economy Desk
2h ago· 6 min readenNews
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Summary
Bitcoin fell below $60,000 for the first time since October 2024, hitting an intraday low of $59,110 and completely erasing the post-election rally that had pushed it to a record high of $122,000. The breakdown triggered sharp declines across altcoins, record ETF outflows over 12 consecutive sessions, and marked the first Bitcoin sale by Strategy (formerly MicroStrategy) since 2022. The move represents a full unwinding of the so-called "Trump rally" in crypto markets.
Key quotes
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Bitcoin slid to an intraday low of $59,110, marking the first confirmed move below $60,000 since October 2024 and completing a reversal that erased the entire post-election rally.
From the record high of $122,000 reached in the months after President D
Bitcoin slid to $59,110 Friday, breaching $60,000 for the first time since October 2024 and erasing the entire post-election rally. Altcoins fell sharply as ETF outflows hit a 12-session record and Strategy sold Bitcoin for the first time since 2022.
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