Bitcoin has taken a sharp hit, falling around 20% over the past month and dropping to its lowest level since October 2024. The world's largest cryptocurrency slipped below the $60,000 mark last week, marking a tough period for investors already dealing with heavy losses.
On Friday, Bitcoin fell as much as 7% to about $59,100 during US trading hours, before recovering slightly. It was last trading near $61,500, down roughly 16% for the week. Overall, the price is now more than 50% below its all-time high of around $126,000 reached in October 2025, CNBC reports.
The recent decline began after Strategy, the firm founded by Michael Saylor, revealed it had sold a small portion of its Bitcoin holdings. Although the sale was limited, it shook investor confidence as the company had long been seen as a committed long-term holder. The move triggered large-scale liquidations worth hundreds of millions of dollars, pushing prices further down, according to a report in CNBC.
Why Did Bitcoin Decline?
Market conditions also worsened after stronger-than-expected US jobs data lifted Treasury yields. Higher yields often reduce appetite for riskier assets like cryptocurrencies, adding more pressure on Bitcoin.
At the same time, investor attention has shifted to other markets. Analysts say that money is moving into booming sectors such as artificial intelligence stocks and semiconductor companies, especially in Asia. Upcoming major stock market listings are also expected to attract retail investors, drawing funds away from crypto assets.
Uncertainty around regulation has added to the cautious mood. A key US crypto bill, known as the Clarity Act, appears to be losing momentum, with lawmakers still divided. Meanwhile, global geopolitical tensions have failed to support Bitcoin, raising doubts about its reputation as a "digital gold" safe haven.
Despite global equity markets reaching new highs, Bitcoin has not followed the same trend. Its recent movements have also shown weaker links with major indices like the Nasdaq.
Bitcoin On Monday
Bitcoin recovered slightly in early Monday trading, rising towards $63,000 after briefly dipping below $60,000, reports Bloomberg. Some investors see the decline as a buying opportunity, noting that similar drops in the past have often been followed by strong rebounds.
Bitcoin on Monday surged to $63,207.22, at 1:19 pm extending its upward momentum in a clear uptrend. The cryptocurrency climbed by $1,886.79, or 3.08%.
– with Agencies inputs --
