Bitcoin drops below $60,000; Nasdaq slips

Created at 5 Jun · 15:50 UTC3 sources↑ Market-relevant2 events

IN SHORT

Bitcoin fell below $60,000 for the first time since October 2024. The Nasdaq Composite also declined over 1.5% amid the broader market downturn.

Key Numbers

$60,000Bitcoin price level

1.5%Nasdaq Composite decline

October 2024Last time Bitcoin below $60,000

Who's Involved

Bitcoin

Cryptocurrency that fell below $60,000

Nasdaq Composite

Stock market index that slipped over 1.5%

Bitcoin drops below $60,000; Nasdaq slips

Key facts

Bitcoin price fell below $60,000.
The Nasdaq Composite index declined by over 1.5%.
The last time Bitcoin traded below $60,000 was in October 2024.

Bitcoin experienced a significant drop, falling below the $60,000 mark. This level had not been breached since October 2024. Concurrently, the Nasdaq Composite stock market index saw a decline of over 1.5%, indicating broader market weakness. The fall in Bitcoin's price suggests a potential shift in cryptocurrency market sentiment or increased selling pressure.

↳ Why This Matters

The drop below $60,000 for Bitcoin marks a significant psychological and technical level, potentially signaling a broader downturn in the crypto market. The concurrent decline in the Nasdaq indicates that risk assets are being sold off, impacting both crypto and tech stocks.

FREQUENTLY ASKED

Falling below $60,000 is a notable price level that Bitcoin had not traded below since October 2024, potentially indicating a bearish trend.

The Nasdaq Composite index slipped by over 1.5% during the trading session.

Both Bitcoin and the Nasdaq have experienced declines, suggesting a correlation in risk asset performance, where investors are selling off speculative assets.

Bitcoin drops below $60,000; Nasdaq slips

PiQ Daily

Key facts

Bitcoin drops below $60,000; Nasdaq slips

PiQ Daily

Key facts

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