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Bitcoin drops below $60,000, first time since October 2024

Politics

Bitcoin drops below $60,000, first time since October 2024

Published: Jun 5, 2026 | Author: Henry Oduah | Source: Vanguard Daily

Bitcoin dropped below $60,000 on Friday, its lowest level since October 2024, just before Donald Trump’s election which propelled it to a record high.

The currency fell by about 6 percent around 1615 GMT, to $59.7709, before paring its losses slightly.

The election of Trump, a staunch advocate of cryptocurrencies, to the White House in November 2024 for a second term sparked a wave of enthusiasm in the sector, sending the price of bitcoin soaring to nearly $110,000.

AFP

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