Bitcoin Slides Under $60K, Facing Back-to-Back Quarterly Loss
Bitcoin dropped below $60,000 and is on pace for a rare consecutive quarterly loss, rattling crypto traders heading into Q4.
Bitcoin cracked the $60,000 level and is now staring down something traders almost never see: two losing quarters in a row. That kind of back-to-back red on the quarterly chart is historically rare for BTC, and it's the kind of signal that has both bulls and bears paying close attention right now.
The drop puts serious pressure on the narrative that Bitcoin was in a clean bull cycle. If you've been holding through this drawdown, you already know the pain. The $60K level was widely watched as a line in the sand — losing it opens the door to deeper support zones that hadn't been seriously tested in months.
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Context matters here. Macro headwinds haven't gone away. Higher-for-longer interest rates continue to squeeze risk assets across the board, and crypto doesn't get a pass. When liquidity tightens, speculative assets feel it first and hardest. Bitcoin is no exception, no matter how many ETF approvals hit the tape.
What does a second straight quarterly loss actually mean historically? It's uncommon enough to be noteworthy, but it doesn't automatically mean the cycle is over. Markets have a way of shaking out weak hands before the next leg. That said, if you're trading this, don't get caught fighting the tape — respect price action and manage your size accordingly.
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