Bitcoin falls below $60,000, on track for a rare back-to-back quarterly loss
Bitcoin has fallen below $60,000, marking a rare back-to-back quarterly loss for the cryptocurrency. Market pressure is attributed to outflows from spot ETFs, a hawkish Federal Reserve, and a shift in investor interest toward AI-related tech stocks.
Why it matters
The decline highlights the sensitivity of crypto assets to macroeconomic policy and the current market preference for AI-driven equity sectors.
The altcoins again led the way down. Ether fell 9.5% on the week to about $1,567, dogecoin dropped 11.7% to $0.073, Hyperliquid's HYPE lost 10.6% and XRP slid 8.7% to $1.04. Solana held up better at $70, off 3.5%, and tron was the most resilient, down 1.5%.
The article provides market data and financial analysis without taking a stance on the value of the assets.
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