The world’s largest cryptocurrency, Bitcoin (BTC), has rebounded sharply after falling to $60,000, marking its lowest level in 16 months. The recovery is being driven by signs of revival in global technology stocks, which earlier in the week had triggered widespread sell-offs across risky asset classes, Reuters reported.
Read More: Bitcoin plunges up to 8% in the latest tech-led sell-off
On Friday, BTC surged 3.3% to $65,198.20, bouncing back from the day’s low of $60,008.52. Despite the recovery, Bitcoin remains close to its weakest levels since October 2024, just before US President Donald Trump’s re-election, when he publicly voiced support for cryptocurrencies.
bitcoin down to 65k$
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“Bitcoin’s been declining since October 2025; you might wonder if it was the canary in the coalmine or just a coincidence,” said Chris Weston, head of research at brokerage Pepperstone in Melbourne. “Many of these large, crowded positions are being unwound very quickly.”
Ethereum (ETH) also saw gains, climbing around 4% to $1,919.37, after hitting a 10-month low of $1,751.94 earlier in the week.
The recent sell-offs have heavily impacted the broader cryptocurrency market, which has lost approximately $2 trillion in value since reaching a peak of $4.379 trillion in October 2025. January alone accounted for over $1 trillion in losses. Year-to-date, Bitcoin’s losses approach 26%, while Ethereum has fallen nearly 36%, reflecting heightened investor caution amid turbulence in both equities and precious metals markets.
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Despite this, investor confidence showed signs of returning on Friday, suggesting potential stabilization for digital assets in the near term.
Joshua Chu, co-chair of the Hong Kong Web3 Association, remarked that Bitcoin’s movement toward the $60,000 level highlights market volatility and underscores the importance of risk management in cryptocurrency investments.
Analysts say that while the rebound offers relief, the crypto market remains vulnerable to rapid swings, and investors should remain cautious as they navigate this high-risk asset class.