Bitcoin breached the $60,000 support level for the first time since the 2024 Trump election win, signaling a major breakdown in the cryptocurrency market.
Bitcoin broke below $60,000 support, a level that had held since the 2024 election, signaling bearish momentum. The headline does not specify a catalyst, but the break suggests technical weakness and fading post-election optimism.
With $60,000 broken, the next major support sits around $55,000, which was the top of the 2021 cycle.
The break below $60,000 suggests that the momentum from the 2024 Trump victory has fully reversed, though macro factors may still determine the longer-term trend.
Bitcoin fell below $60,000 on Thursday, breaking a psychologically critical floor that had held since Donald Trump’s 2024 presidential victory. The decline erases gains fueled by post-election crypto optimism, pushing BTC/USD to its lowest in nearly two years. The move reflects intensifying bearish pressure in digital assets, though immediate catalysts remain unclear.
Bitcoin last fell below $60,000 shortly after the 2024 U.S. presidential election, before embarking on a rally that took it to near $100,000.
It signals a potential shift in market sentiment away from the risk-on attitude that dominated after Trump's election, possibly presaging further declines in cryptocurrencies.