Bitcoin has fallen to its lowest level in 21 months, trading near $57,735 on Bitstamp during early trading hours.
The decline marks a significant break from weeks of relative stability, as the flagship cryptocurrency succumbs to renewed selling pressure.
The drop below the psychological $60,000 level is significant, as it removes a key support zone that had held during previous corrections.
The asset has slipped to its lowest valuation since September 2024, marking a fresh low in a prolonged period of market volatility.
The world’s largest cryptocurrency fell back below the $60,000 threshold, extending a severe downturn that has eroded gains from earlier in the year.
The price action reflects a broader loss of confidence in digital assets, with traders moving away from risk-on positions.
The drop below the psychological $60,000 level is significant, as it removes a key support zone that had held during previous corrections.