Bitcoin’s Price Drops Below $60K for the First Time Since October 2024
BTC’s price dropped below $60K for the first time in almost two years.
The cryptocurrency market continues to suffer.
Over the past 24 hours, Bitcoin’s price has fallen by a considerable 5.5%. More notably, it dipped below the coveted $60,000 level for the first time since October 2024.
As CryptoPotato reported earlier, the move reflects a broader market downturn where altcoins are suffering equally, if not worse than Bitcoin.
This has resulted in a whopping $1.5 billion worth of liquidated derivatives positions throughout the past 24 hours, as the downturn doesn’t appear to ease.
BTC’s price has bounced slightly after dropping to $59,743 and it’s interesting to see if this level will be able to halt further downside.
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