The Real Reason Behind Bitcoin's Brutal Sell-Off To $60,000

Bitcoin's (CRYPTO: BTC BTC - $69661.580 historic sell-off that bottomed at $60,000 was not driven by crypto panic or ETF buyers exiting their position, but rather by forced deleveraging in traditional markets. How Deleveraging In Stocks Influenced Crypto Prices According to Bitwise Invest advisor Jeff Park, Bitcoin has become highly correlated with software stocks and other risk assets, which were hit during a statistically extreme drawdown for multi-strategy funds.

Source: benzinga.com

Related symbols: BTCUSD

2026-02-09 15:15:03 GMT.

Link to source Join our Telegram channel

Price & Market Data

Price: $69661.580

Volume 24h: $47,329,752,760.70

Market Cap: $1,392,307,669,018.90

Description

Bitcoin (BTC) is a cryptocurrency launched in 2010. Users are able to generate BTC through the process of mining. Bitcoin has a current supply of 19,985,562. The last known price of Bitcoin is 67,939.666186 USD and is up 3.18 over the last 24 hours. It is currently trading on 12558 active market(s) with $82,306,309,215.67 traded over the last 24 hours. More information can be found at https://bitcoin.org/.