Bitcoin slides below $60,000, capping its worst week in months

Bitcoin sank below $60,000 on Friday, touching its lowest level since October 2024 and extending a sell-off that has cut the cryptocurrency by more than half from its peak near $126,000. The token was down about 16% on the week after a mix of factors rattled sentiment, including Strategy's sale of a small portion of its holdings, heavy liquidations of bullish bets and pressure on risk assets after a stronger-than-expected U.S. jobs report pushed Treasury yields higher. The slide also came as bitcoin continued to lag record-setting tech stocks. U.S.-listed bitcoin ETFs had posted a record 13 straight sessions of outflows before a small net inflow on Thursday, while total ETF net assets fell sharply from mid-May levels.