Bitcoin (BTC) has dipped below $60,000 for the first time in seven weeks, with analysts blaming "whale games" for the fall. The BTC price hit new lows of $59,809 on Bitstamp after the Wall Street open. The weakness, which began after the weekly close, continued through the Asia and Wall Street trading sessions, resulting in 5% losses on the day for BTC/USD. Trading resource Material Indicators warned that whales were shifting liquidity around to influence price momentum. The drop below $60,000 resulted in long liquidations topping $136.5 million in the 24 hours to writing.