This week was dominated by one major story: a sharp market-wide selloff that pushed Bitcoin below $60,000 for the first time since 2024 and dragged almost every major crypto asset lower with it.
The final trigger came on Friday after a stronger-than-expected US jobs report, which reduced hopes of near-term Federal Reserve rate cuts. But the pressure had already been building for weeks. Heavy Bitcoin ETF outflows, capital rotating into the AI sector, and renewed geopolitical tension in the Middle East all added fuel to the move.
By the end of the week, hundreds of billions of dollars had been wiped from the crypto market. At the same time, regulation continued to move forward in Washington, AI-related infrastructure kept attracting major funding, and new security concerns reminded investors that risk in crypto is not only about price.
Bitcoin Dropped Below $60,000
Bitcoin started the month near $73,500 but spent most of the week moving lower. First, the $68,000 support level broke. Then $65,000 failed. By Friday, Bitcoin had fallen below $60,000, touching an intraday low near $59,100 before recovering slightly into the high $59,000 range.
That left Bitcoin down around 18% to 20%
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