Friday Bitcoin closed at just $59,948, a 19% drop for June and more than 50% lower than its record high of $124,310 reached in October. The slide prompted CNBC to interview long‑time Bitcoin skeptic Jeremy Grantham, a 87‑year‑old investment strategist.
Market Overview
Closing price (Friday): $59,948
June change: ‑19%, which corresponds to an approximate $14,000 loss per Bitcoin from the start‑of‑June level
Record high (October): $124,310
Decline from record: > 50% lower, roughly $64,300 beneath the October peak
The price sits roughly $50 below the $60,000 round‑number benchmark, a level that market participants often watch. These figures translate into a sizable absolute correction—about $14,000 off the early‑June price and a gap of roughly $64,000 from the all‑time high.
Grantham's View
“Bitcoin is useless.”
— Jeremy Grantham, 87‑year‑old investment strategist, in a CNBC interview marking the recent price slide.
Grantham reiterated his longstanding skepticism, calling Bitcoin “useless.”
Analyst Perspective
The sharp June decline and the current price level suggest weakened demand for Bitcoin in the near term, especially after the October rally.
For portfolio managers, the heightened volatility underscores the need for robust risk‑management protocols when allocating to crypto‑centric positions.
Commentary from a veteran strategist such as Grantham can influence sentiment among institutional investors who monitor his outlook.
Investors may also watch upcoming macro‑economic data and regulatory developments for additional signals on Bitcoin’s trajectory.
The current price hovers just below the $60,000 round number, a level frequently noted by market participants.
Overall, the market reaction underscores the volatility inherent in crypto assets and the influence of high‑profile critics.
Source: Slashdot.org, June 27 2026