Bitcoin continued its recent rally on Friday, dropping below $60,000 for the first time since 2024.
Digital currency’s lead in terms of market share was recent for $59,909down about 6% on the day and 18.5% last week. Other top funds have also taken a similar hit in the market downturn, and Ethereum down 23% on the week to the current price of $1,555 and Solana down 22% in the past seven days to $63.75.
Bitcoin has now fallen more than 52% from its peak price of $126,080 which was established last October.
ETF Growth and Strategy’s The first Bitcoin sale since 2022 have been highlighted as the main reasons for the loss of the past week. However, the latest leg down to Bitcoin and other top currencies come as strong US jobs data sinks expectations of a cut in interest rates, and as confidence in crypto and blockchain security has been shaken by a major threat of Zcashprivate funds.
U.S. employers added 172,000 jobs in May, nearly double what was expected. Traders are now expecting an increase in prices at the end of the year, according to CME’s FedWatch toolwhich does not gain the value of Bitcoin.
“Powerful data kills the cost issue,” said Nicolai Søndergaard, research analyst at crypto analytics firm Nansen. “Bitcoin, which has already fallen by 15% and is living in an uncertain long term, does not have a large support base, and the tensions in the Middle East are causing risk to soften in all markets.”
Zcash developers removed the bug this week, but said Thursday they could not be sure if the vulnerability was used to create unlimited ZEC, due to the technology of the network. That revelation has led to The price of ZEC has fallenit is now down 40% in the last 24 hours.
As the environment contemplates the collapse of ZEC and the future of the system, the idea that advanced AI models can be used to find potential products in other major industries may cause fear in the entire industry.
It’s not reflected in Friday’s prices, but the position of US Bitcoin ETFs broke in a 13-day period on Thursday, it added. 3 million dollars-a bit of money, but the economy is recovering after billions of dollars have left the currency in recent weeks, the negative growth rate so far in 2026.
Stocks are also falling on Friday, with the Nasdaq showing a 2.5% drop from the open, while Nvidia (NVDA) shares are up about 4.5%. Top crypto stocks are feeling the pain, with Strategy (MSTR) down almost 10% on the day and Coinbase (COIN) down 8.4%.
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