Bitcoin has recorded its most severe monthly decline since the collapse of FTX in 2022, cementing a bearish turn that has pushed the leading cryptocurrency below the critical $60,000 support level.
The breakdown marks the first time the asset has traded at this valuation since October 2024, signaling a sustained loss of momentum in the digital asset market.
Futures contracts tumbled to $58,995 on Thursday, establishing a new low for the current cycle.
Futures contracts tumbled to $58,995 on Thursday, establishing a new low for the current cycle.
This move extends the digital asset's decline from its 2025 highs by approximately 52 percent, confirming that the breakdown below the psychological $60,000 threshold is not merely a temporary pullback but a structural shift in market sentiment.
The sharp repricing reflects a broader erosion of confidence among institutional and retail investors alike.
With the asset well off its recent peaks, traders are increasingly positioning for further downside risk, as the failure to hold key support levels suggests that buying interest has evaporated.