Bitcoin’s steep decline continued on Friday afternoon, dropping below $60,400 and marking its lowest price point since October 2024. This represents a staggering decrease of over 50 percent from its all-time high of $126,000 reached in October 2025. The cryptocurrency fell by 5 percent within the day and is down 17 percent for the week, reflecting ongoing volatility in the digital asset market.
The recent downturn can be traced back to Monday when Michael Saylor’s company, Strategy—previously known as MicroStrategy—announced its first Bitcoin sale since 2022, liquidating $2.2 million of the cryptocurrency. This move has sparked concern among investors and analysts regarding the health of the cryptocurrency market.
Compounding matters, a stronger-than-expected jobs report released on Friday has bolstered Wall Street’s predictions of potential interest rate hikes by the Federal Reserve before the year’s end. The report reflects a strong labor market, pushing yields on Treasury debt higher and prompting investors to shift their assets away from Bitcoin, which is generally seen as a hedge against inflation.
In addition to Bitcoin’s struggles, Coinbase, one of the largest cryptocurrency exchanges in the United States, is facing significant challenges, with its stock price dropping nearly 20 percent for the week following a missed earnings report. The effects are being felt across the sector, with Saylor’s Strategy also experiencing a 15 percent decline during the same timeframe.
As market dynamics shift amid rising interest rates and other economic indicators, both cryptocurrency investors and major players in the industry remain on alert, grappling with the implications of these developments on digital assets moving forward.
