Bitcoin fell sharply on Friday, dropping to its lowest level since October 2024 and extending a weekly loss of about 16%.

The price slid to around $59,000 after a combination of factors, including a small Bitcoin sale by Strategy, broader market liquidations, and pressure from stronger-than-expected U.S. jobs data.

The decline was also linked to shifting investor sentiment, with money flowing into AI stocks and reduced optimism around key crypto legislation.

Analysts noted that Bitcoin’s usual correlations with stock markets have weakened, even as equities hit record highs, CNBC has reported.

Despite the downturn, some investors view the drop as a buying opportunity, though overall ETF inflows have slowed significantly.