Bitcoin: Drops Below $60000 in $2.5T Market Selloff
Bitcoin falls below $60000 for first time since October 2024 as $2.5 trillion vanishes in 24 hours with S&P 500, gold and silver posting record single-day losses.
SourceAnalysis
Bitcoin plunged 6.31% to erase $80 billion in value and slipped below $60000 for the first time since October 2024 while the broader market suffered a $2.5 trillion liquidation in a single session.
S&P 500 shed 1.65% or $1.14 trillion, gold lost 3.38% or $1 trillion and silver dropped 6.9% or $280 billion in the largest one-day equity crash since January 20. Bitcoin price history below $60000 since 2024 now aligns with fresh crypto market crash signals as traders reassess risk across traditional and digital assets.
Price action on the 4-hour chart shows BTC at $60952.21 trading inside the Bollinger Bands yet pressing the lower band support at $60156.49; the RSI at 24.87 registers deeply oversold while the MACD death cross at -2443.87 and price remaining beneath both the EMA50 at $68385.92 and EMA200 at $74200.46 confirm the bearish structure remains intact.
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