Prof G Markets · Tuesday, June 30, 2026
Bitcoin has experienced a significant sell-off, falling from a high of around $120,000 to approximately $60,000, erasing over 18 months of gains and dropping more than 40% in the past year. Jamilu Kelly, a columnist at the Financial Times, predicts further declines, stating that Bitcoin was still $60,000 too high at its current price. He argues that the lack of a supportive crypto environment indicates a downward trend.
“The price of Bitcoin is plummeting, and as of now, the sell-off is showing no signs of stopping. In just the past month, Bitcoin has fallen from around $73,000 to $60,000. Last week, it hit its lowest point since October of 2021, before the election. And despite the Trump administration's pro-crypto agenda, investors today are nowhere to be found. All told, Bitcoin has erased more than 18 months of gains, and it's down over 40% in the past year.”
“I mean, yeah, as I wrote, I still felt that Bitcoin was $70,000 too high when it was at $70,000. So I now think it's about $60,000 too high. Um, I think that fundamentally, uh, there is nothing there because it's all just belief. Um, and therefore, eventually, we'll get to zero. I've never been someone who, uh, wants to kind of say when that's going to happen. I don't think it's going to happen that soon. But the fact that we have this incredibly friendly crypto environment and it still doesn't seem to be finding any way of, like, any support. That suggests that we're heading down and down and down from here.”