Bitcoin Price Drops Below $60,000 for First Time Since 2024

Bitcoin's price has experienced a significant decline, dropping below $60,000 for the first time since Donald Trump's reelection in 2024. This downturn marks a reversal from its previous status as a market darling.

The largest cryptocurrency slumped to as low as $59,101 during Friday's trading hours in New York. Its value has decreased by over half since reaching a peak of above $126,000 last year.

Bitcoin is now worth less than it was when crypto-friendly Trump retook the White House, highlighting the rapidly changing nature of the speculative market.