Bitcoin slipped near $58,000 before recovering toward $60,000, trading around $59,888, down 2.7% on the day and 4.5% on the week. CF Benchmarks notes the $50,000-$60,000 zone has historically attracted buyers. However, major altcoins led by ether, XRP, and dogecoin fell more sharply, with ether dropping 5.6% to ~$1,555 and dogecoin sliding 3.8%. The broader crypto selloff was driven by a global tech stock rout, as Apple's price hikes raised cost concerns and South Korea's Kospi triggered its second trading halt. Analysts attribute part of Bitcoin's decline to large holders selling into a market with waning risk appetite, as investor rotation favors AI stocks. Key support remains at $55,000, with resistance at $61,000-$62,000. The market cooldown is seen as broad-based rather than crypto-specific.

Key facts

• Bitcoin traded near $59,888, down 2.7% daily and 4.5% weekly.
• Ether fell 5.6% to ~$1,555, leading altcoin losses.
• Tech stock rout triggered global risk-off, with Apple and chipmakers declining.
• CF Benchmarks cites $50K-$60K as historical buyer zone.
• Analysts note large Bitcoin holders selling amid rotation to AI stocks.

KeyAudit data perspective