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Bitcoin Falls Below $60,000—Erasing Trump-Fueled Rally
By Ty Roush,
Forbes Staff.
Ty Roush is a breaking news reporter based in New York City.
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Jun 05, 2026, 01:37pm EDT
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Topline
A weeklong selloff for bitcoin extended on Friday as the cryptocurrency fell below the $60,000 threshold for the first time since late 2024, after billionaire Michael Saylor sparked a broader decline for the crypto market.
The world’s largest cryptocurrency is now down more than half from its all-time high.
AFP via Getty Images
Key Facts
The price of bitcoin fell to a low of $59,840 just after noon on Friday, though the cryptocurrency subsequently recovered losses to rise above $61,000 shortly after 1:15 p.m. EST.
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