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Bitcoin Crashes Below 60,000 Dollars: The Biggest Drop Since October 2024, the Funds Are Fleeing

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Bitcoin Crashes Below 60,000 Dollars: The Biggest Drop Since October 2024, the Funds Are Fleeing

The crypto market reminded everyone again why it's not for the faint of heart. The value of cryptocurrencies dropped sharply over the past few days, led by bitcoin, which crashed from levels above 80,000 dollars down to around 59,000 - the biggest drop since October 2024.

The weekly loss hit around 17 percent, forming what analysts call a „double bottom" - a pattern that, optimists say, could signal the end of the turbulent stretch. But in the crypto world, every „bottom" is the bottom only until the next one gets broken.

Behind the drop is a concrete flow of money. Since mid-May, American bitcoin funds (ETFs) have seen outflows of over 4 billion dollars. Even more telling - even companies that traditionally held bitcoin without selling have started offloading parts of their portfolios. The reason: reduced liquidity and investors reorienting toward shares in tech giants and chipmakers.

For a Balkan reader, the lesson is as old as the market itself. When the „safe" holders start selling, and the money flees toward different promises, that's rarely a good sign for those who got in last. Crypto stayed what it always was - a bet, not a savings account. And bets, as everyone in the Balkans knows, sometimes pay out, but more often they collect.