Bitcoin drops below $60,000, first time since October 2024

Illustration shows representation of bitcoin.
Dado Ruvic/ Reuters
The price of bitcoin fell to a value below US$ 60 thousand, the lowest since October 2024, this Friday (5).
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The cryptocurrency fell around 6% at around 1:15 pm Brasília time, to US$ 59.7709.
Since the confirmation of Donald Trump's election as president of the United States in November 2024, bitcoin and other cryptocurrencies have soared.
One month after the victory of the Republican businessman at the polls, seen as a great supporter of the sector, bitcoin - the cryptocurrency with the highest market value - surpassed the US$100,000 (R$526,000) mark for the first time, a record publicly celebrated by Trump.
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True to its reputation for strong fluctuations, bitcoin rose again and reached a record price of US$ 126,251.31 (R$ 665 thousand), before experiencing a fall.
Since the beginning of this year, however, bitcoin has been affected by a more pessimistic climate in several markets, especially by shares in the technology sector and also in the precious metals market.
In addition, the cryptocurrency faces uncertainty about sector rules, given the analysis of a project on digital currencies in the United States, the so-called CLARITY Act, which is stuck in Senate.
"The expected advances in relation to the law did not come," says James Butterfill, analyst at CoinShares.

Source: G1