Bitcoin falls below $60,000 after 13-day ETF outflow streak
What's new: The token is down 16% for the week, and about $4 billion in bullish crypto bets have been wiped out.
Bitcoin slid below $60,000 on Friday, touching its lowest level since October 2024 and extending a punishing week for crypto markets. The drop followed Strategy's sale of 32 Bitcoin, a small transaction that nevertheless rattled sentiment, and was compounded by liquidations of leveraged bullish positions. US-listed Bitcoin exchange-traded funds had also just ended a record 13-session run of net outflows, after nearly $4.4 billion left the products. CNBC reported Bitcoin was down 16% for the week, while Business Times said the token has lost about half its value from a record above $126,000 reached in October. Higher Treasury yields after a stronger US jobs report added pressure on risk assets.