Bitcoin Drops After Election-Fueled Rally Collapses

Bitcoin fell to $60,033.01 on Friday, wiping out gains sparked by Donald Trump's November 2024 victory and sliding roughly half from an October peak above $120,000. Analysts cite regulatory uncertainty, forced deleveraging and correlated tech and precious-metal sell-offs; the downturn produced a $12.4 billion reported loss at Strategy and prompted Gemini to cut about a quarter of its workforce.