Bitcoin Drops Below $60,000

SadaNews - The cryptocurrency Bitcoin has dropped below the $60,000 level, recording $58,626 today, Wednesday, continuing its monthly losses.

The decline was driven by concerns raised by "MicroStrategy," the world's largest publicly traded company holding Bitcoin, following a revision of its financing policy that could provide greater flexibility, potentially including the sale of part of its massive cryptocurrency holdings.

According to data from the "CoinMarketCap" platform (as of 2:18 PM Mecca time), Bitcoin fell by over 3%, while the company's stock dropped by about 10%, erasing most of its previous gains amid investors' reassessment of the company's new capital management mechanism.

This decline coincides with Bitcoin facing increasing technical pressures after failing to regain key resistance levels following the breakdown of a bullish pattern in the first quarter.