Bitcoin posts first sub-$60K daily close since Sept 2024

Bitcoin closed below $60,000 on Friday, marking the first daily close under that level since September 2024. The decline coincided with heavy losses in Asian technology-focused stock markets and a steep sell-off in South Korea that prompted exchange circuit-breakers after an about 8% drop.

Price charts showed levels that had supported Bitcoin earlier in the year acting as resistance during the session. Short-term charts indicated selling pressure around the $60,000 area while traders highlighted the 200-week simple moving average near $62,243 as a key long-term reference.

Asian equity weakness weighed on assets tied to technology performance. South Korean trading halts were triggered when local benchmarks fell roughly 8% intraday. US indexes were trading higher around the time of Bitcoin’s close, and semiconductor firm Micron Technologies released earnings that provided brief support to sentiment during the day.

Market participants discussing the tech sector pointed to deep declines from peak levels among major technology companies. A market note observed, “Most people do not realize how many tech giants are already deep bear market territory,” and cited an example of a major crypto exchange whose shares had fallen about 69% from their highs.

A trading firm focused on macro data highlighted recent US inflation readings and their effect on risk assets. The firm wrote that core personal consumption expenditures are nowcast at 3.30% and headline PCE at 3.82%, both above the Federal Reserve’s target. The firm added that the Fed’s 2026 inflation forecast has risen to 3.6% from 2.7%.

Traders also noted the upcoming quarterly options expiry as a potential near-term influence on price moves. One analyst pointed to a drop in a corporate Bitcoin funding vehicle and a concurrent stall at $60,000, adding that there was an unconfirmed bullish divergence on the daily timeframe. The analyst urged reclaiming the 200-week moving average to support further upside.

The session left technical and macro factors in focus: resistance near $60,000 on short-term charts, the 200-week trend line around $62,243 on longer-term charts, regional equity selling in Asia, and recent US inflation signals affecting risk pricing. No investment advice is provided; market conditions and indicators were reported as observed during the trading session.