Bitcoin tumbles to $60,000 amid Zcash bug

Bitcoin's price has fallen sharply, dropping below $60,000 and reaching its weakest point since October 2024. This decline is exacerbated by a critical bug discovered in the privacy-focused cryptocurrency Zcash, which caused its value to plummet by 40%. The combination of macroeconomic pressures, such as strong job growth data suggesting potential interest rate hikes, and specific crypto-related issues like the Zcash vulnerability is creating significant downward pressure across the digital asset market.