Bitcoin fell below $60,000 on June 24, closing near $59,312, a decline of approximately 5.3 percent for the day. This marks Bitcoin’s lowest level since late 2024, according to reports from multiple outlets. The cryptocurrency is now in its eighth month of a bear market, with the decline coinciding with a broader pullback in tech stocks.
CNBC reported that Bitcoin’s drop reflects ongoing market volatility, with the cryptocurrency having been in a bear market since earlier in the year. The outlet noted that the decline aligns with a broader downturn in tech stocks, which has contributed to a broader market selloff.
The Rio Times attributed part of the decline to a selloff in the chip sector, which has had a drag on the broader crypto market. The outlet also confirmed the price level, stating that Bitcoin closed near $59,312 on June 24, its lowest level since late 2024.
The decline comes amid continued uncertainty in the cryptocurrency market, with investors reacting to macroeconomic conditions and regulatory developments. No additional commentary from market participants or officials was reported in the sources provided.
Bitcoin remains under $60,000 as of the latest reports, with no immediate signs of a reversal in the current market trend.
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