Bitcoin faced a dramatic downturn, experiencing a significant selloff to its lowest value since October 2024. The cryptocurrency slid to $59,073 on the last trading day of the week, breaking below its previous low in February of $60,062. The decline was primarily triggered by strong U.S. employment figures released last Friday, heightening the possibility of sustained high interest rates. This scenario pushed U.S. Treasury yields and the dollar index upwards, adversely affecting risk-based assets including stocks and cryptocurrencies.