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Bitcoin crashes to $59,000 as market stops believing in the HODL-at-any-cost story
Jun 5, 2026
< 1 min read
by Jai Hamid
for CryptoPolitan
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AI Overview
On Friday Bitcoin slid below $60,000 to about $59,911, down roughly 6% intraday and 18.7% for the week, its lowest level since 2024 and about 52% below its peak. The sharp drop increases crypto market risk and could pressure DeFi and CEX liquidity, dampen token launches and fundraising, and slow adoption momentum.
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Bitcoin broke under $60,000 on Friday, and the market did not exactly take it like adults in a room. The biggest crypto asset was trading around $59,911, down about 6% on the day and 18.7% for the week. This saw the price of Bitcoin falling to its lowest level since 2024 and by 52% from...
