Khaberni - Bitcoin continued its decline towards the $60,000 level, due to increasing concerns about the collapse of "Strategi" company's financing mechanism, in addition to concerns about interest rate hikes weakening demand for high-risk assets.
The largest cryptocurrency had fallen below this level two weeks ago for the first time since late 2024.
The currency, which dropped by up to 3.3% to reach $62,220 today, Thursday, has lost about 50% of its value since reaching its peak in October of that year.
Traders' attention focused on the stock price of "Stretch", a subsidiary of "Strategi", which it uses for funding its most recent purchases from its largest holdings of "Bitcoin".
The price dropped to record levels, making the sale of these securities unprofitable for the company led by Michael Saylor.
Saylor had earlier this month sparked market concerns by selling a small amount of Bitcoin, after having urged its holders for years not to sell their digital currencies.
