Bitcoin is experiencing its worst monthly performance since November 2022, with a significant downturn in its value. The cryptocurrency's price has notably dropped below $60,000, reaching lows such as $56,663 and falling as much as 7%. This decline, the lowest since April 19, has triggered substantial market liquidations, exceeding $300 million and contributing to broader crypto market losses totaling $470 million. The downturn is attributed to a variety of factors including a tough stance on interest rates by the Federal Reserve.