Bitcoin Crashes Below $60K as ETF Exodus Hits Record Streak
Bitcoin plunges to October 2024 lows as record ETF outflows and Strategy's sell-off hammer crypto markets.
Bitcoin punched through the $60,000 floor on Friday, sliding to levels not seen since October 2024. The drop caps a brutal week for crypto holders who've watched their portfolios bleed red.
The culprit? A perfect storm of selling pressure. Bitcoin ETFs are experiencing a record streak of outflows, with institutional investors heading for the exits at an unprecedented pace. Strategy's decision to dump its bitcoin holdings added fuel to an already raging fire.
The cascading sell-off marks a sharp reversal for an asset class that had been riding high on ETF enthusiasm. Friday's plunge extended losses that had been piling up all week, leaving crypto investors nursing serious wounds.
For those keeping score, this is bitcoin's worst stretch since the pre-election rally of late 2024. The ETF outflow streak shows no signs of slowing down.