Bitcoin makes first sub-$60K close since Q3 2024 as tech stocks enter ‘deep bear market’
Bitcoin ($BTC) struggled to reclaim $60,000 on Friday amid continued global market volatility. Key points:Bitcoin closes below $60,000 on daily time frames for the first time since September 2024.Asian stock markets see another day of major losses on tech-stock concerns.$BTC price analysis hopes for a reclaim of the 200-week trend line as the bull case. Bitcoin risks $60,000 resistance flip as tech selling persists Data from TradingView showed that prior support was increasingly becoming the bulls‘ new hurdle after Bitcoin’s first sub-$60,000 daily close since September 2024. $BTC/USD one-hour chart. Source: Cointelegraph/TradingView Asia stock markets saw more downside on the day, with South Korean circuit-breakers kicking in on a new 8% crash. Like on Tuesday, US stocks managed to avoid contagion, with the St tell you this,” it added. Coinbase stock one-week chart. Source: Cointelegraph/TradingView In its latest analysis, trading company QCP Capital stressed the influence of US inflation trends on risk assets going forward. As Cointelegraph reported, the May print of the Personal Consumption Expenditures (PCE) index, known as the Federal Reserves “preferred” inflation gauge, recorded its highest year-on-year increase since mid-2023. “Core PCE is nowcast at 3.30%, while headline PCE is nowcast at 3.82%, both still above target,” QCP wrote. “The Feds 2026 inflation forecast has also moved up