Bitcoin drops below $60,000, capping its worst week since 2022
What's new: US bitcoin ETFs just ended a record 13-day outflow streak after withdrawals cut net assets to $80.4 billion.
Bitcoin sank below $60,000 on Friday, hitting its lowest level since October 2024 and extending a weeklong rout that left the token down 16%. The slide followed Strategy's sale of 32 bitcoin, a rare move by the largest corporate holder, and was compounded by liquidations of bullish wagers and higher Treasury yields after a stronger-than-expected US jobs report. Bitcoin has now fallen by more than half from its peak near $126,000 in October 2025. The downturn also exposed a growing split from surging tech stocks, while ether fell to its lowest level since April 2025. US-listed bitcoin ETFs, once a key source of demand, only narrowly broke a record 13-session run of outflows on Thursday.