Bitcoin · Iran · Federal Reserve (FED) · CNBC Technology
Bitcoin falls back under $60,000, hitting its lowest level since October 2024
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Bitcoin dropped on Wednesday to its lowest level since October 2024 amid a pullback in tech stocks, as the crypto bear market drags on.
Key facts
The price of bitcoin slid more than 4% to $59,548.19 — This is the third time this year that bitcoin has traded below $60,000
Bitcoin ETFs collectively have seen $182 million exit the funds so far this week and are on pace for their seventh consecutive week of net outflows
Bitcoin dropped on Wednesday to its lowest level since October 2024 amid a pullback in tech stocks, as the crypto bear market drags
Summary
The price of bitcoin slid more than 4% to $59,548.19. This is the third time this year that bitcoin has traded below $60,000. The flagship cryptocurrency, in roughly its eighth month of a bear market, i s being squeezed from both macroeconomic and industry-specific headwinds. The primary upside catalyst for the broader crypto industry, the market structure bill known as the CLARITY Act, has about five weeks to clear a key legislative hurdle before Congress' summer recess.