The cryptocurrency market continues to suffer.<\/p>\n
Over the past 24 hours, Bitcoin\u2019s price has fallen by a considerable 5.5%. More notably, it dipped below the coveted $60,000 level for the first time since October 2024.<\/p>\n
<\/a>Source: TradingView<\/p>\n As\u00a0CryptoPotato\u00a0<\/em>reported<\/a> earlier, the move reflects a broader market downturn where altcoins are suffering equally, if not worse than Bitcoin.<\/p>\n This has resulted in a whopping $1.5 billion worth of liquidated derivatives positions throughout the past 24 hours, as the downturn doesn\u2019t appear to ease.<\/p>\n BTC\u2019s price has bounced slightly after dropping to $59,743 and it\u2019s interesting to see if this level will be able to halt further downside.<\/p>\n Moreover, the most recent crash comes as the US jobs report was posted a few hours ago. According to it, the US economy has managed to add 172,000 jobs in May, which exceeded expectations of 85,000.<\/p>\n The unemployment rate was 4.3%, which is in line with expectations, making this the second-strongest US jobs report in the past 13 months.<\/p>\n Despite the news, the S&P 500 tumbled 1.7% on the day, which suggests that the risk-on trade is growing colder, at least for now. This is further confirmed by declines in the NYSE Composite, Nasdaq Composite, as well as the Dow Jones Industrial Average.<\/p>\n In other words, the drop is not isolated to crypto, but the fact is that it has been far more pronouneced.<\/p>\n The post Bitcoin\u2019s Price Drops Below $60K for the First Time Since October 2024<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The cryptocurrency market continues to suffer. Over the past 24 hours, Bitcoin\u2019s price has fallen by a considerable 5.5%. More notably, it dipped below the coveted $60,000 level for the first time since October 2024. Source: TradingView As\u00a0CryptoPotato\u00a0reported earlier, the move reflects a broader market downturn where altcoins are suffering equally, if not worse than […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-175507","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/175507"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=175507"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/175507\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=175507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=175507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=175507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![<\/a>Source: TradingView<\/p>\nAs\u00a0CryptoPotato\u00a0<\/em>reported<\/a> earlier, the move reflects a broader market downturn where altcoins are suffering equally, if not worse than Bitcoin.<\/p>\nThis has resulted in a whopping $1.5 billion worth of liquidated derivatives positions throughout the past 24 hours, as the downturn doesn\u2019t appear to ease.<\/p>\nBTC\u2019s price has bounced slightly after dropping to $59,743 and it\u2019s interesting to see if this level will be able to halt further downside.<\/p>\nMoreover, the most recent crash comes as the US jobs report was posted a few hours ago. According to it, the US economy has managed to add 172,000 jobs in May, which exceeded expectations of 85,000.<\/p>\nThe unemployment rate was 4.3%, which is in line with expectations, making this the second-strongest US jobs report in the past 13 months.<\/p>\nDespite the news, the S&P 500 tumbled 1.7% on the day, which suggests that the risk-on trade is growing colder, at least for now. This is further confirmed by declines in the NYSE Composite, Nasdaq Composite, as well as the Dow Jones Industrial Average.<\/p>\nIn other words, the drop is not isolated to crypto, but the fact is that it has been far more pronouneced.<\/p>\nThe post Bitcoin\u2019s Price Drops Below $60K for the First Time Since October 2024<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"The cryptocurrency market continues to suffer. Over the past 24 hours, Bitcoin\u2019s price has fallen by a considerable 5.5%. More notably, it dipped below the coveted $60,000 level for the first time since October 2024. Source: TradingView As\u00a0CryptoPotato\u00a0reported earlier, the move reflects a broader market downturn where altcoins are suffering equally, if not worse than […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-175507","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/175507"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=175507"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/175507\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=175507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=175507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=175507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/06\/BTCUSD_2026-06-05_19-13-01-scaled.png\"){kind=link}