Bitcoin fell below $62,000 overnight Thursday, its lowest level since February 6 of this year. Other cryptocurrencies are following suit.
The decline follows a week in which Bitcoin's price fell 16 percent - a decline that accelerated after billionaire Michael Saylor sold a portion of his bitcoin portfolio.
According to Josh Du, chief investment officer at Animoca Brands, higher oil prices and a tougher global growth outlook are putting a damper on the appetite for cryptocurrencies.
This compares with a historical peak of over $126,000 per bitcoin in October 2025.
