Bitcoin loses $60,000, falls to weakest price since October 2024
60-second summary
Bitcoin's price plummets to its weakest level since October 2024, falling below $60,000. The largest buyer has turned seller, while ETF investors are exiting the market. Rate-hike fears are also rising, contributing to the decline. Market volatility is intensifying, with investors reassessing their positions in the face of increasing uncertainty and risk aversion.
Several headwinds converged over bitcoin recently as its largest buyer turned seller, ETF investors headed for the exits, and rate-hike fears rose.