Bitcoin’s collapse continues – It could already fall below $60,000

The decline of the cryptocurrency bitcoin continues, as its value has already fallen below $60,000. The last time the largest cryptocurrency by market value was as low was in October 2024.

As of early evening Finnish time, Bitcoin had recovered to around $61,000, but was still down by around four percent. At the same time, cryptocurrency companies such as Coinbasen, Circlen and Strategynstocks have been falling sharply on Wall Street.

According to the news channel CNBC, the decline started after Michael SayloriStrategy, founded by, sold a small part of its bitcoin holdings.

The sell-off dampened market sentiment and led to hundreds of millions of dollars in forced selling, accelerating price pressure. The situation was worsened by the stronger-than-expected May employment report from the United States published on Friday, which raised interest rates and pressured risk investments.

Bitcoin’s peak value of around $126,000 was seen in October 2025.

According to CNBC, the Clarity Act bill to regulate crypto markets appears to be moving further away from implementation as legislative priorities change and lawmakers remain divided on key aspects of the bill.

Bitcoin has been considered an alternative investment target, which was expected to benefit from, for example, the uncertainty of world politics and to move in the market along with technology stocks. Neither expectation seems to be true at the moment. The value of the cryptocurrency has fallen at the same time as the US is at war with Iran, and major technology stocks have continued to rise.

The value of Bitcoin has fallen by almost 20 percent this week. Since the beginning of the year, the bill has accumulated 30 percent, and in the last 12 months, 40 percent.

Bitcoin experienced its golden age after the election of Donald Trump, who was positive about cryptos, as the President of the United States.

Bitcoin ETFs have also supported the market. A net of three million dollars of new capital flowed into them on Thursday, breaking a 13-day period of outflows. During that time, the combined net assets of bitcoin ETFs fell from $107.8 billion to $80.4 billion, CNBC reports.