Bitcoin (BTC) took a downturn below $60,000 on April 17 as US markets began trading, marking a return to prices last seen in early March before the digital currency rallied to new heights.
The flagship crypto touched a low of $59,658 before modestly recovering to around $60,800 as of press time, based on CryptoSlate data.
Bitcoin was clinging to the $60,500 support level after a slowdown in sell pressure, with bulls attempting a potential recovery above $61,000.
Market turbulence
The drop comes at a time of general market turbulence, with both Bitcoin and traditional equity markets showing signs of strain.
Bitcoin last dipped to these levels on March 5, just before rocketing to a record-breaking $73,780 on March 13. Since reaching that peak, BTC has experienced significant fluctuations — trading in a massive range between $59,000 and $72,500 since the start of April.
Experts attribute the ongoing market volatility to various macroeconomic issues, including persistent inflation in the
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