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The world's largest cryptocurrency, Bitcoin, suddenly fell below $ 60,000 after a long period today. 
At the time of writing, BTC is trading at around $59,437. 
<figure id="attachment_155857" aria-describedby="caption-attachment-155857" style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" class="size-full wp-image-155857" src="https://www.bitcoinsistemi.com/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-4.png" alt="" width="1200" height="800">
 <figcaption id="caption-attachment-155857" class="wp-caption-text">
 BTC fiyatında yaşanan ani düşüşü gösteren grafik.
 </figcaption>
</figure> 
<h2 id="why-did-bitcoin-price-drop">Why Did Bitcoin Price Drop?</h2> 
The move below the psychological threshold of $60,000 was actually a combination of multiple factors. The biggest factor was today's higher-than-expected inflation data in the US. Higher-than-expected inflation could disrupt the FED's rate cut cycle or result in a smaller rate cut. 
In addition, the SEC’s lawsuit against Cumberland, a well-known cryptocurrency company, accusing it of selling unregistered securities, also contributed to the decline. Yesterday, the US legal barrier to selling BTC seized from Silk Road was removed. 
Related News: <a href="https://en.bitcoinsistemi.com/tron-founder-justin-sun-elected-prime-minister-of-country-holding-99-percent-of-its-reserves-in-bitcoin/" target="_blank" rel="dofollow">Tron Founder Justin Sun Elected Prime Minister of Country Holding 99 Percent of Its Reserves in Bitcoin!</a> 
<h2 id="what-are-the-liquidation-data">What are the Liquidation Data?</h2> 
With the effect of the approximately 2% drop in Bitcoin in the last hour, a liquidation wave of $50 million was observed. $49 million of these were in long positions. On the other hand, the amount of liquidation in the last 24 hours reached a huge amount of $231 million. $203 million of these were in long positions. 
The highest liquidation in the last 24 hours was in Bitcoin with $72 million. 
<figure id="attachment_155859" aria-describedby="caption-attachment-155859" style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" class="size-full wp-image-155859" src="https://www.bitcoinsistemi.com/wp-content/uploads/2024/10/bitcoin-likidasyon-1.jpg" alt="" width="989" height="444">
 <figcaption id="caption-attachment-155859" class="wp-caption-text">
 Graph showing liquidations in the last 24 hours. Green: Short, Red: Long
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</figure> 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/bitcoin-price-drops-below-60000-whats-driving-the-decline-heres-the-latest-data/">Bitcoin Price Drops Below $60,000 – What’s Driving the Decline? Here’s the Latest Data</a>

Bitcoin Price Drops Below $60,000 – What’s Driving the Decline? Here’s the Latest Data

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