Bitcoin · Bitcoin Magazine
Bitcoin price plunged to an intraday low of approximately $58,000 Thursday morning before staging a partial recovery
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The world’s largest cryptocurrency by market cap was trading around $59,315 as of mid-morning Thursday, down more than 3% on the day and roughly 53% below its October 6, 2025 all-time high of $126,198.
Key facts
- The world’s largest cryptocurrency by market cap was trading around $59,315 as of mid-morning Thursday, down more than 3% on the day and roughly 53% below its October 6, 2025 all-time high of $126,198
- Bitcoin price plunged from $61,000 to $58,000 in a sharp sell-off this morning
- The bitcoin price support trendline, which drifts upward roughly 0.093% per day as Bitcoin’s network matures, was sitting in the low $60,000s at the time of the breakdown
- With Bitcoin price now sitting more than 50% below its all-time high and the Power Law model in uncharted territory, bulls face a critical test with bears clearly in control
Summary
Bitcoin price plunged from $61,000 to $58,000 in a sharp sell-off this morning. Bitcoin price plunged to an intraday low of approximately $58,000 Thursday morning before staging a partial recovery, as a bear market that began after October’s all-time high shows no clear signs of exhaustion, and a closely watched long-term valuation model appears to have broken for the first time in its history. Bitcoin price rallied as high as $61,868 in the early hours before sellers overwhelmed buyers, sending the price off a cliff in a matter of minutes.