Bitcoin fell below $60,000 on major exchanges Thursday, hitting $59,750 on Coinbase and $59,799 on Binance. The breach ends an 18-month stretch above that mark and capped a 17% weekly nosedive. Money kept pouring out of crypto funds as investors chased other opportunities.
Threshold that held for months
The $60,000 level stood firm back in February. This week it collapsed completely. Traders immediately started watching whether old support might now block rallies. The psychological barrier didn’t hold this time around.
Where the money went
Digital asset funds bled $5.8 billion over the past four weeks. CoinShares tracked the cash moving out as investors worried about global tensions and rate shifts. Money’s flowing into AI plays now, not crypto. It’s not small change—this is the biggest exodus since early 2025.
Why it’s not a total collapse
CoinShares stressed this is a 'sentiment shock' not a broken system. The firm insists crypto’s fundamentals remain sound despite the bloodletting. That’s cold comfort for holders sitting on weekly losses. Still, fundamentals don’t stop the bleeding.
Next 48 hours critical
Will $60,000 act as resistance now? The next two days will tell. If prices bounce off that level again, the slide could deepen. Traders are watching order books for signs of fresh selling. Nobody expects an immediate reversal.
