Bitcoin Slides Below $60,000 to Lowest Point Since October 2024
Bitcoin extended its bear market slump, dropping under $60,000 as tech stocks pulled back and crypto sentiment soured.
Bitcoin fell below $60,000 on Monday, touching its lowest price since October 2024 as a broad selloff in technology stocks dragged the leading cryptocurrency deeper into a prolonged downturn. The drop marks the eighth consecutive month of bearish price action for Bitcoin, underscoring the persistent headwinds facing digital assets in the current macroeconomic environment.
The latest decline mirrors a pattern that has emerged repeatedly this cycle: when risk appetite fades on Wall Street — particularly in the tech-heavy Nasdaq — Bitcoin tends to follow suit. The correlation between crypto and high-growth equities has remained a defining feature of this bear phase, limiting Bitcoin's ability to decouple and recover independently.
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For investors who entered positions near Bitcoin's all-time highs, the renewed pressure below $60,000 revives concerns about how much further the asset could retreat before finding durable support. Eight months of sustained selling suggests that the market has yet to reach the capitulation point that has historically preceded Bitcoin's major recoveries.
The psychological weight of the $60,000 level is significant — it had previously acted as a floor during the 2024 rally, and a confirmed break below it could shift sentiment further toward caution. Analysts watching the space will now be focused on whether buyers step in to defend key technical levels or whether further downside materializes as broader market uncertainty persists.
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