Bitcoin hits bottom at $59,000
Bitcoin has likely set its cycle low at about $59,000, marking the end of the latest crypto downturn.
The cryptocurrency market reached its definitive bottom for the currency cycle, with a 53% drop from its Oct. 6 all-time high of $126,000.
CoinDesk data shows bitcoin touched as low as $59,375 on June 5, and at the time of writing, bitcoin hovered just shy of $64,000.