Bitcoin falls below $60,000, on track for rare back-to-back quarterly loss

Bitcoin slipped below $60,000 and is heading for a roughly 12% Q2 loss after a 22% Q1 drop, marking only the third time BTC has posted back-to-back losing quarters to start a year.

• Bitcoin traded near $59,940, down 7% on the week, with altcoins falling even harder.
• Ether dropped 9.5% to ~$1,567, Dogecoin fell 11.7%, and XRP slid 8.7% on the week.
• Outflows from US spot bitcoin ETFs, a hawkish Fed, and a strong dollar drove the selloff.
• Only two prior instances of back-to-back losing quarters to start a year in bitcoin's history.

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