Bitcoin has fallen below the $60,000 threshold, touching levels near $59,000 in early trading.
The move marks a fresh breach of a key psychological support level for the world’s largest cryptocurrency, pushing it toward its lowest valuation in months.
The slide coincides with renewed selling pressure in spot Bitcoin exchange-traded funds.
Persistent outflows from these investment vehicles have stripped liquidity from the market, exacerbating the downward momentum.
Investors appear to be rotating away from high-beta digital assets as uncertainty mounts.
This crypto weakness is not occurring in isolation.