{"id":32458,"date":"2026-06-07T06:32:33","date_gmt":"2026-06-07T06:32:33","guid":{"rendered":"https:\/\/trendifyhubusa.com\/index.php\/2026\/06\/07\/bitcoin-cracks-60000-sinking-to-lowest-level-since-october-2024\/"},"modified":"2026-06-07T06:32:33","modified_gmt":"2026-06-07T06:32:33","slug":"bitcoin-cracks-60000-sinking-to-lowest-level-since-october-2024","status":"publish","type":"post","link":"https:\/\/trendifyhubusa.com\/index.php\/2026\/06\/07\/bitcoin-cracks-60000-sinking-to-lowest-level-since-october-2024\/","title":{"rendered":"Bitcoin cracks $60,000, sinking to lowest level since October 2024"},"content":{"rendered":"<p><br \/>\n<\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107351682\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Sopa Images | Lightrocket | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><a href=\"https:\/\/www.cnbc.com\/quotes\/BTC.CB=\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> extended its losses on Friday, dropping to October 2024 lows to cap an already bruising week for crypto investors.<\/p>\n<p>The flagship cryptocurrency was last lower by 3.4% at $61,514.90. Earlier, it fell to $59,099.25, its lowest level since October 2024. It was off 16% on the week.<\/p>\n<p>The declines began after <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-2\"><a href=\"https:\/\/www.cnbc.com\/quotes\/MSTR\/\" target=\"_blank\" rel=\"noopener\">Strategy<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>, founded by Michael Saylor, <a href=\"https:\/\/www.cnbc.com\/2026\/06\/01\/strategy-shares-fall-after-selling-2point5-million-in-bitcoin-its-first-sale-since-2022.html\" target=\"_blank\" rel=\"noopener\">sold a small amount of its bitcoin<\/a> holding. This <a href=\"https:\/\/www.cnbc.com\/2026\/06\/02\/bitcoin-drops-back-under-70000-strategy-extends-its-slide.html\" target=\"_blank\" rel=\"noopener\">weighed on sentiment<\/a> and forced hundreds of millions of dollars in liquidations that accelerated the downside pressure. Losses were exacerbated after a stronger-than-expected\u00a0<a href=\"https:\/\/www.cnbc.com\/2026\/06\/05\/jobs-report-may-2026.html\" target=\"_blank\" rel=\"noopener\">May jobs report<\/a> Friday sent Treasury yields higher and pressured risk assets. <\/p>\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-6\"><a href=\"https:\/\/www.cnbc.com\/quotes\/MSTR\/\" target=\"_blank\" rel=\"noopener\">Strategy<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> gave back earlier losses but still ended the day down 6.9% and the week down 24%, making it the stock&#8217;s worst week since November 2022. <\/p>\n<\/div>\n<div>\n<div class=\"Collapsible-proliveCollapsableContainer\" role=\"button\" tabindex=\"0\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"256\" height=\"256\" viewbox=\"0 0 256 256\" aria-labelledby=\"title desc\" role=\"img\" focusable=\"false\" preserveaspectratio=\"xMinYMin\" class=\"Collapsible-stockChartIcon\"><title>Stock Chart Icon<\/title><desc>Stock chart icon<\/desc><g transform=\"translate(1.4065934065934016 1.4065934065934016) scale(2.81 2.81)\"><path d=\"M 87.994 0 H 69.342 c -1.787 0 -2.682 2.16 -1.418 3.424 l 5.795 5.795 l -33.82 33.82 L 28.056 31.196 l -3.174 -3.174 c -1.074 -1.074 -2.815 -1.074 -3.889 0 L 0.805 48.209 c -1.074 1.074 -1.074 2.815 0 3.889 l 3.174 3.174 c 1.074 1.074 2.815 1.074 3.889 0 l 15.069 -15.069 l 14.994 14.994 c 1.074 1.074 2.815 1.074 3.889 0 l 1.614 -1.614 c 0.083 -0.066 0.17 -0.125 0.247 -0.202 l 37.1 -37.1 l 5.795 5.795 C 87.84 23.34 90 22.445 90 20.658 V 2.006 C 90 0.898 89.102 0 87.994 0 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"\/><path d=\"M 65.626 37.8 v 49.45 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 23.518 L 65.626 37.8 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"\/><path d=\"M 47.115 56.312 V 87.25 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 42.03 L 47.115 56.312 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"\/><path d=\"M 39.876 60.503 c -1.937 0 -3.757 -0.754 -5.127 -2.124 l -6.146 -6.145 V 87.25 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 59.844 C 41.952 60.271 40.933 60.503 39.876 60.503 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"\/><path d=\"M 22.937 46.567 L 11.051 58.453 c -0.298 0.298 -0.621 0.562 -0.959 0.8 V 87.25 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 48.004 L 22.937 46.567 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"\/><\/g><\/svg><\/p>\n<div class=\"Collapsible-proLivePlayerCloseOrExpand\"><img decoding=\"async\" src=\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\" class=\"Collapsible-dismissButton\" alt=\"hide content\"\/><\/div>\n<\/div>\n<p><iframe title=\"How bitcoin has fared over the past year.\" src=\"https:\/\/www.cnbc.com\/appchart?symbol=BTC.CB%3D&amp;range=1Y&amp;type=mountain&amp;embedded=true&amp;$DEVICE$=undefined\" height=\"460\" scrolling=\"no\" loading=\"lazy\" style=\"border:0;width:100%\"><\/iframe><\/p>\n<p>How bitcoin has fared over the past year.<\/p>\n<\/div>\n<div class=\"group\">\n<p>At the $60,000 level, bitcoin is down by more than half from its all-time high of about $126,000 reached in October 2025. <\/p>\n<p>Charles-Henry Monchau, chief investment officer at Syz Group, said bitcoin&#8217;s latest weekly decline <a href=\"https:\/\/www.cnbc.com\/2026\/06\/04\/bitcoin-is-weathering-its-ugliest-week-in-months-as-narrative-fades-and-liquidity-rotates.html\" target=\"_blank\" rel=\"noopener\">has been driven by a combination<\/a> of Strategy&#8217;s selling and a crowding-out effect from hot money chasing other assets.<\/p>\n<p>&#8220;Speculators are going all-in on AI stocks and memory chips, especially in Korea, and the market also anticipates that upcoming monster IPOs\u00a0will divert some retail money into the new stocks,&#8221; Monchau told CNBC over email.\u00a0<\/p>\n<\/div>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-108315478\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-108315478\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000414730\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><img decoding=\"async\" class=\"InlineVideo-videoThumbnail\" src=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/108315479-17804302431780430241-46311755898-1080pnbcnews.jpg?v=1780430242&amp;w=750&amp;h=422&amp;vtcrop=y\" alt=\"Strategy leads crypto stocks lower after selling bitcoin\"\/><span class=\"InlineVideo-videoButton\"\/><span\/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Additionally, bitcoin&#8217;s key catalyst for renewed investor interest, the crypto market structure bill known as the <a href=\"https:\/\/www.cnbc.com\/2026\/05\/04\/circle-jumps-16percent-on-clarity-act-compromise-that-preserves-stablecoin-rewards.html\" target=\"_blank\" rel=\"noopener\">Clarity Act<\/a>, is drifting further out of reach as legislative priorities shift and lawmakers remain divided on key provisions of the bill.<\/p>\n<p>As uncertainty around the Iran war has kept bitcoin under pressure in recent months, the stock market has risen to new records. The divergence has investors questioning both of bitcoin&#8217;s dominant narratives: that it is &#8220;digital gold&#8221; that should benefit from geopolitical uncertainty, and that it trades like a high beta tech stock.<\/p>\n<p>&#8220;We saw the 30-day Pearson correlation between bitcoin and the Nasdaq and S&amp;P 500 reach a near-perfect positive correlation as recently as a month ago, but that has collapsed over the last several weeks,&#8221; Rajiv Sawhney, head of international portfolio management at Wave Digital Assets, told CNBC over email.<\/p>\n<p>&#8220;So while global equities, particularly tech stocks, continued to reach new all-time highs, bitcoin has failed to track the same upward price trend.&#8221;<\/p>\n<p>Bitcoin ETFs, a big driver of price appreciation, collectively eked out a net inflow of $3 million on Thursday, snapping a 13-day streak \u2014 and their longest streak ever \u2014 of outflows. Net assets across bitcoin ETFs fell to $80.4 billion from $107.8 billion on May 14.<\/p>\n<p>Others see the most recent moves as an opportunity to buy the dip. Speaking to CNBC&#8217;s Squawk Box Europe on Friday, <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-9\"><a href=\"https:\/\/www.cnbc.com\/quotes\/ASST\/\" target=\"_blank\" rel=\"noopener\">Strive<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> chief executive Matt Cole said that bitcoin&#8217;s fundamentals have &#8220;never been better.&#8221;<\/p>\n<p>&#8220;This is the fifth time that bitcoin has been at its 200-week moving average \u2014 the previous four have all been the perfect time to buy the dip, and I think this time will age in the same manner,&#8221; he added.\u00a0<\/p>\n<\/div>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-108317276\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-108317276\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000415069\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><img decoding=\"async\" class=\"InlineVideo-videoThumbnail\" src=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/108317277-17806583951780658391-46362012551-1080pnbcnews.jpg?v=1780658394&amp;w=750&amp;h=422&amp;vtcrop=y\" alt=\"'Bitcoin is always a volatile journey', says Strive CEO\"\/><span class=\"InlineVideo-videoButton\"\/><span\/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Elsewhere, privacy coin Zcash tumbled after an AI-assisted security review <a href=\"https:\/\/x.com\/zooko\/article\/2062644925590900980\" target=\"_blank\">exposed a long-standing vulnerability<\/a> that could have allowed the creation of counterfeit ZEC.<\/p>\n<p><em>\u2014CNBC&#8217;s Chris Hayes contributed reporting.<\/em><\/p>\n<\/div>\n<div class=\"ArticleBody-googlePreferredSourceContainer\" data-module=\"GooglePreferredSource\" data-id=\"RegularArticle-GooglePreferredSource-5\"><a href=\"https:\/\/www.google.com\/preferences\/source?q=https:\/\/www.cnbc.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.<\/a><\/div>\n<\/div>\n<p><br \/>\n <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sopa Images | Lightrocket | Getty Images Bitcoin extended its losses on Friday, dropping to October 2024 lows to cap<\/p>\n","protected":false},"author":1,"featured_media":32459,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_animmysite_disable_animation":false,"fifu_image_url":"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107351682-1703619076870-gettyimages-1775225039-omarques_10112023_ILLUS_PHONE_-15.jpeg?v=1703619232&w=1920&h=1080","fifu_image_alt":"","footnotes":""},"categories":[214],"tags":[],"class_list":["post-32458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-usa-politics"],"_links":{"self":[{"href":"https:\/\/trendifyhubusa.com\/index.php\/wp-json\/wp\/v2\/posts\/32458","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/trendifyhubusa.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/trendifyhubusa.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/trendifyhubusa.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/trendifyhubusa.com\/index.php\/wp-json\/wp\/v2\/comments?post=32458"}],"version-history":[{"count":0,"href":"https:\/\/trendifyhubusa.com\/index.php\/wp-json\/wp\/v2\/posts\/32458\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/trendifyhubusa.com\/index.php\/wp-json\/wp\/v2\/media\/32459"}],"wp:attachment":[{"href":"https:\/\/trendifyhubusa.com\/index.php\/wp-json\/wp\/v2\/media?parent=32458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trendifyhubusa.com\/index.php\/wp-json\/wp\/v2\/categories?post=32458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trendifyhubusa.com\/index.php\/wp-json\/wp\/v2\/tags?post=32458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}