Bitcoin Price Today: Bitcoin has climbed back above the $60,000 mark after briefly slipping below the key psychological level last week on Friday for the first time since October 2024. However, despite the recovery, the world’s largest cryptocurrency remains under intense pressure after suffering its steepest weekly decline since the collapse of Sam Bankman-Fried’s FTX exchange in 2022.
The decline culminated in a 16% slump over the seven days through Sunday, making it Bitcoin’s worst weekly performance since November 2022, when the FTX bankruptcy triggered a 23% weekly collapse. FTX, once one of the world’s largest crypto exchanges and valued at around $32 billion, filed for bankruptcy on November 11, 2022, after it was revealed that customer funds had allegedly been misused by founder Sam Bankman-Fried and funneled to affiliated trading firm Alameda Research.
In today’s deals, the cryptocurrency was down over 2% to $61,366.90.
Bitcoin has endured a prolonged period of weakness in recent months. After trading near $82,000 in early May, the cryptocurrency fell more than 20% to around $63,000. During last week’s selloff, Bitcoin briefly dropped below $60,000, marking its lowest level since October 2024.
The digital asset has lost around 27% of its value in 2026 and is currently trading nearly 50% below its record high of about $126,000 reached in October 2025. Bitcoin’s latest downturn has raised fresh concerns among investors and analysts, even though the current correction remains less severe than previous crypto bear markets.
While Bitcoin has managed to recover some lost ground, analysts caution that the rebound may not signal the end of the correction.
Why Are Bitcoin Prices Falling?
Several factors have converged to pressure Bitcoin and the broader cryptocurrency market.
One of the biggest headwinds has been persistent outflows from Bitcoin exchange-traded funds (ETFs), reflecting weakening investor appetite for risk assets. At the same time, capital has increasingly flowed toward artificial intelligence-related stocks and high-profile equity offerings, drawing money away from cryptocurrencies.
According to media reports, brokerage Bernstein believes the weakness is primarily being driven by softer capital flows rather than concerns surrounding quantum computing or other technological risks. According to the brokerage, retail investors have increasingly chased opportunities linked to artificial intelligence, while some of the strongest-performing segments within the crypto market this year have been tokenized equities and commodities.
“Bitcoin still may offer some diversification from the unusual singular AI driven momentum markets we have experienced this year,” Bernstein said in a recent report.
Rising interest-rate expectations have added further pressure. Strong US jobs data and the ongoing US-Iran conflict have prompted investors to scale back expectations of Federal Reserve rate cuts and instead begin pricing in the possibility of rate increases. Higher borrowing costs typically reduce demand for speculative assets such as cryptocurrencies.
The unresolved conflict in the Middle East has also contributed to market uncertainty. The war has disrupted energy flows, increased oil prices and heightened concerns about inflation, making central banks more cautious about easing monetary policy.
Another factor weighing on sentiment was the decision by Michael Saylor’s Strategy Inc. to sell a small portion of its Bitcoin holdings. While the sale represented only a tiny fraction of its position, it challenged the long-held market narrative that the company would never sell any of its Bitcoin reserves.
Technical indicators have also weakened, adding to concerns that Bitcoin’s recent recovery could prove temporary.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
