Bitcoin Drops Below $60,000 as Retail Traders Flee to AI Stocks

The price of bitcoin dropped below $60,000 Wednesday (June 24), marking its first dip below that level since the beginning of June. The decline also saw bitcoin fall as low as $59,023, which is the lowest price since October 2024, Bloomberg reported Wednesday. The report attributed bitcoin’s decline to retail traders losing interest in the asset as they shift their intelligence to artificial intelligence stocks, bitcoin treasury company Strategy Inc.