ABU DHABI: Bitcoin slipped below the $60,000 mark on Friday, marking its first drop to this level since October 2024, as weakening investor demand and broader risk-off sentiment weighed on cryptocurrency markets.
The world’s largest digital asset declined by around 6%, reaching an intraday low of $59,770.90 before recovering slightly later in the trading session.
The latest downturn means Bitcoin has now lost roughly half of its value compared to the record highs it reached last autumn, underscoring a sharp reversal in market momentum over recent months.
Analysts attribute the sell-off to a mix of factors, including renewed caution across global financial markets and a surprise liquidation move by Strategy, one of the most influential corporate Bitcoin holders, which unsettled investor confidence and added further pressure to prices.
