Bitcoin Slides to Near US$60,000-Lowest Since October 2024 amid Market Weakness
Source: Kapitales Research
Highlights
Bitcoin dipped to around US$60,000, marking its lowest level since October 2024 as selling pressure intensified.
The move lower mirrors heightened risk-off positioning, ETF-related selling, and diminished institutional demand.
Despite near-term weakness, structural bullish narratives such as tight supply and long-term institutional interest remain intact.
Price Action and Market Context
Bitcoin’s price recently tested the US$60,000 level, a pivotal psychological threshold it hasn’t breached since late 2024. This move comes amid a deep, extended correction from its multi-month highs, with prices down more than 50% from their October 2025 peak.
According to market reports, the digital asset dropped through several key support bands, briefly trading near US$60,256 before modestly recovering above US$61,000. The retracement has accelerated amid macroeconomic headwinds and structural shifts in investor positioning, weighing on sentiment and liquidity in crypto markets.
Drivers Behind the Downturn
Multiple factors have contributed to Bitcoin’s descent toward the US$60,000 floor:
• ETF Outflows and Reduced Institutional Demand: Bitcoin ETF funds have shifted from net buyers to sellers, weakening a key pillar of demand that underpinned prices after the 2024 ETF approvals.
• Leverage Unwinding: As key psychological levels broke, derivatives liquidations intensified, adding to downward momentum.
• Macro Risk Sentiment: Broader risk-off behavior in equities and tightening liquidity conditions have dampened appetite for high-volatility digital assets.
These dynamics illustrate how Bitcoin has increasingly correlated with risk assets during periods of stress, blurring its traditional narrative as a standalone hedge.
Broader Market Impacts
Other cryptocurrencies have mirrored Bitcoin’s weakness, with most major tokens experiencing sharp drawdowns as traders reduce exposure across the board. Crypto-centric equities and blockchain services have also faced pressure amid diminishing speculative interest and tightening funding conditions.
Investor caution has been further accentuated by geopolitical uncertainty and regulatory scrutiny in major jurisdictions, contributing to a more conservative market stance.
Analyst View
Analysts interpret Bitcoin’s retreat toward US$60,000 as a repricing rather than a structural breakdown. While near-term sentiment remains fragile, long-term drivers — including network adoption, finite supply, and evolving institutional frameworks — continue to offer a foundation for strategic interest. The cryptocurrency’s path ahead will depend heavily on developments in macro liquidity, ETF flows, and regulatory clarity.
Disclaimer for Kapitales Research
The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media, such as images or music, used on this platform are either owned by Kapitales Research, obtained through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Bitcoin Slides to Near US$60,000-Lowest Since October 2024 amid Market Weakness
Highlights
Price Action and Market Context
Bitcoin’s price recently tested the US$60,000 level, a pivotal psychological threshold it hasn’t breached since late 2024. This move comes amid a deep, extended correction from its multi-month highs, with prices down more than 50% from their October 2025 peak.
According to market reports, the digital asset dropped through several key support bands, briefly trading near US$60,256 before modestly recovering above US$61,000. The retracement has accelerated amid macroeconomic headwinds and structural shifts in investor positioning, weighing on sentiment and liquidity in crypto markets.
Drivers Behind the Downturn
Multiple factors have contributed to Bitcoin’s descent toward the US$60,000 floor:
• ETF Outflows and Reduced Institutional Demand: Bitcoin ETF funds have shifted from net buyers to sellers, weakening a key pillar of demand that underpinned prices after the 2024 ETF approvals.
• Leverage Unwinding: As key psychological levels broke, derivatives liquidations intensified, adding to downward momentum.
• Macro Risk Sentiment: Broader risk-off behavior in equities and tightening liquidity conditions have dampened appetite for high-volatility digital assets.
These dynamics illustrate how Bitcoin has increasingly correlated with risk assets during periods of stress, blurring its traditional narrative as a standalone hedge.
Broader Market Impacts
Other cryptocurrencies have mirrored Bitcoin’s weakness, with most major tokens experiencing sharp drawdowns as traders reduce exposure across the board. Crypto-centric equities and blockchain services have also faced pressure amid diminishing speculative interest and tightening funding conditions.
Investor caution has been further accentuated by geopolitical uncertainty and regulatory scrutiny in major jurisdictions, contributing to a more conservative market stance.
Analyst View
Analysts interpret Bitcoin’s retreat toward US$60,000 as a repricing rather than a structural breakdown. While near-term sentiment remains fragile, long-term drivers — including network adoption, finite supply, and evolving institutional frameworks — continue to offer a foundation for strategic interest. The cryptocurrency’s path ahead will depend heavily on developments in macro liquidity, ETF flows, and regulatory clarity.
Disclaimer for Kapitales Research
The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media, such as images or music, used on this platform are either owned by Kapitales Research, obtained through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au