Bitcoin
Why Bitcoin is down 3.9% today
Analysis
Bitcoin fell 3.9% over the past 24 hours as it slid below the $60K level amid reports of negative ETF flow dynamics weighing on spot demand (U.Today; Cointelegraph). Decrypt also linked the drop to risk-off pressure after stronger-than-expected jobs data, alongside broader confidence hits from a sharp Zcash crash that rattled crypto sentiment.
Contributing Factors (3)
Bitcoin Plunges Below $60K for the First Time Since 2024
Bitcoin has plunged below the $60,000 mark for the first time since 2024, crashing through its 200-week moving average.
Bitcoin Dives Below $60K Following Strong Jobs Data, Zcash Crash Shaking Crypto Confidence
Bitcoin has now fallen more than 50% from its October peak, dipping below $60,000 as the crypto industry reckons with the Zcash vulnerability.
Bitcoin teases 'seller exhaustion' as BTC price downside reaches $60.3K
Bitcoin sellers were losing steam, market analysis said as ongoing BTC price downside brought the market closer to $60,000.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.