What’s the Reason Behind Bitcoin’s Crash to $60K?

Bitcoin

What‘s the Reason Behind Bitcoin’s Crash to $60K？

• Bitcoin whales sold over 81,000 BTC in eight days, increasing market supply pressure.
• Large wallets now hold the lowest share of Bitcoin supply in nine months.
• Small retail wallets increased holdings, reaching their highest supply share in 20 months.

The cryptocurrency market extended its losses over the past 24 hours, with total market capitalization falling about 7.9% to $2.23 trillion as broad selling hit major digital assets. At press time, Bitcoin is trading around $65,100, down 7.8% after hitting a 24-hour low of $60,074.

Ethereum declined nearly 9% to trade at about $1,913, while several major altcoins, including BNB, XRP, Solana, and Dogecoin, recorded daily losses ranging between 9% and 14%, showing sustained risk-off sentiment across the sector.

But why did BTC drop to nearly $60,000, its lowest level since October 2024？ New data hints that changes in …