Bitcoin has breached the $60,000 support level for the first time since October 2024, marking a significant psychological milestone in the ongoing cryptocurrency downturn.
The asset slid more than 4% on Wednesday, extending losses that have eroded nearly half of its value from the all-time high of $126,296 reached in October 2025.
Futures contracts plunged to $58,995 on Thursday, underscoring the severity of the recent selloff.
The breakdown follows a period of relative stability early in 2026, when the digital currency hovered near the $100,000 mark.
However, selling pressure intensified in February, triggering a sustained decline that has pushed prices to multi-year lows.
Futures contracts plunged to $58,995 on Thursday, underscoring the severity of the recent selloff.
The sharp correction poses a significant challenge for retail investors who entered positions near the peak.