Bitcoin Falls Below $60,000—Erasing Trump-Fueled Rally Ty Roush is a breaking news reporter based in New York City.Jun 05, 2026, 01:37pm EDTToplineA weeklong selloff for bitcoin extended on Friday as the cryptocurrency fell below the $60,000 threshold for the first time since late 2024, after billionaire Michael Saylor sparked a broader decline for the crypto market.The world’s largest cryptocurrency is now down more than half from its all-time high.AFP via Getty ImagesKey FactsThe price of bitcoin fell to a low of $59,840 just after noon on Friday, though the cryptocurrency subsequently recovered losses to rise above $61,000 shortly after 1:15 p.m. EST.This is a developing story.LOADING VIDEO PLAYER...FORBES’ FEATURED Video