Bitcoin fell as low as $59,023 on Wednesday, dropping 5.4% and breaking below $60,000 for the first time since October 2024 — a level traders have treated as significant support for much of the past two years. The move came as US equity markets extended a three-day losing streak, with the S&P 500 down 0.3% and the Nasdaq falling 0.8% in Wednesday afternoon trading. Asian markets also sold off earlier in the session, with chipmakers Samsung Electronics and SK Hynix among the hardest hit as investor appetite for stretched valuations continued to deteriorate.
