Hyderabad: A sharp Bitcoin crash pushed the world’s largest cryptocurrency below $60,000 for the first time since October 2024, extending a decline that has erased more than half of its value from last year’s record high.
The cryptocurrency dropped as much as 6 per cent to $59,770 during trading on Friday.
Bitcoin has lost more than half its value since reaching a peak above $126,000 in October 2025.
The digital asset now trades below the level recorded when Donald Trump returned to the White House.
Analysts attributed the latest decline to outflows from Bitcoin-linked exchange-traded funds, geopolitical tensions and concerns over future demand.
Investors also focused on developments at Strategy Inc., a major corporate Bitcoin holder.
The company disclosed a rare sale of Bitcoin earlier this week.
That announcement intensified scrutiny of the digital-asset treasury model that helped drive the previous bull market.
Bitcoin crash deepens amid demand concerns
Meanwhile, changing investment trends have reduced crypto’s appeal among speculative investors.
Market participants have increasingly shifted attention toward artificial intelligence-related investments.
Analysts said AI stocks now dominate growth-focused investment strategies.
At the same time, investors have directed money into options trading, prediction markets and other digital asset products.
The broader cryptocurrency market also recorded steep losses.
Ether fell as much as 12.8 per cent and touched its lowest level since April 2025.
XRP, Solana and Dogecoin each declined by more than 5 per cent.
Despite receiving support from the Trump administration and gaining wider institutional acceptance, the crypto sector has struggled to attract fresh demand.
Analysts said persistent inflation concerns and expectations of higher interest rates have also pressured non-yielding assets such as Bitcoin.