Bitcoin dips below $60,000 as investors favor huge IPOs
Bitcoin just slid to $61,000 on June 9, 2026, a big drop from its $126,000 high last year. It even dipped below $60,000 for the first time since 2024.
What's behind the slide? Analysts say investors are shifting their money toward huge tech IPOs and other markets, putting extra pressure on crypto.
IPOs and ETF outflows drag Bitcoin
Major IPOs like SpaceX ($1.75 trillion) and Anthropic ($1 trillion) are pulling big investors away from Bitcoin right now.
On top of that, more people are selling off their Bitcoin ETF shares because inflation is sticking around and job markets are strong.
Even Strategy, the biggest corporate holder, sold some tokens in May (despite promising not to), but later bought more to calm nerves.
Bitcoin drops below long term average
Bitcoin fell 2% this week and dropped below a key long-term average, making traders nervous.
Lately, instead of buying the dip, many see price jumps as a chance to cash out, which could mean more downward pressure ahead.