Bitcoin slides below $60,000 after 5-day rout hits October 2024 low

Bitcoin fell below $60,000 on Friday, touching its lowest level since October 2024 and capping a brutal week for crypto markets. The token was down about 16% for the week after a sell-off tied to Strategy's small bitcoin sale, heavy liquidations and rising Treasury yields after a stronger-than-expected May US jobs report. Bloomberg reported nearly $4.4 billion left US-listed bitcoin ETFs over 13 straight sessions before CNBC said the streak ended with a modest $3 million net inflow on Thursday. Bitcoin is now down by more than half from its roughly $126,000 peak in October 2025, while Ether also slid to its weakest level since April 2025.