Bitcoin · Strategy · Bitcoin ETF · Decrypt
Bitcoin Dives Below $60K Following Strong Jobs Data, Zcash Crash Shaking Crypto Confidence
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Bitcoin continued its recent dive on Friday, falling below the $60,000 mark for the first time since 2024.
Key facts
- The leading cryptocurrency by market cap was recently trading at $59,909, down about 6% on the day and 18.5% over the last week
- Bitcoin continued its recent dive on Friday, falling below the $60,000 mark for the first time since 2024
- Bitcoin has now fallen more than 52% from its all-time high mark of $126,080 set last October
- Stocks are also falling Friday, with the Nasdaq showing a 2.5% drop since open, with Nvidia (NVDA) shares down about 4.5%
Summary
The leading cryptocurrency by market cap was recently trading at $59,909, down about 6% on the day and 18.5% over the last week. Bitcoin has now fallen more than 52% from its all-time high mark of $126,080 set last October. Growing ETF outflows and Strategy's first Bitcoin sale since 2022 had been pegged as key reasons for the earlier-week losses. U.S. employers added 172,000 jobs in May, about double what was expected.