Following a major Bitcoin crash, experts are now suggesting it’s only the beginning of a prolonged crypto downturn. Bitcoin reaching two-month lows of just over $81,000 before leveling out around $84,000 by Friday afternoon. The uncertainty proved too much, causing the value of major digital currencies to slide this week as crypto bets — which tend to be far more risky than other investments — were liquidated. “The technical levels have all been taken out on the downside, and I don’t see much support here for Bitcoin,” Hilbert Group chief investment officer Russell Thompson told the outlet, predicting a drop as low as $70,000, and calling getting in on the dip a “general risk move.”
Crypto research strategist Matt Mena also predicted a drop to as low as $75,000, but still expected Bitcoin to eventually rally to $100,000 once again by the end of the quarter. Markets generally view a resurgence of Warsh’s influence as bearish for Bitcoin, as his emphasis on monetary discipline, higher real rates, and reduced liquidity frames crypto not as a hedge against debasement but as a speculative excess that fades when easy money is withdrawn, 10x Research founder Markus Thielen told CoinDesk. Bitcoin exchange-traded funds, a type of crypto investment fund that’s traded on stock exchanges, have been hit particularly hard, with the top 12 ETFs recording three consecutive months of net outflows, as Bloomberg reports, the first time that’s happened since they were launched in 2024. “I wouldn’t be shocked to see BTC trade in the $70,000 range soon,” Kaiko research analyst Adam McCarthy told the outlet.
Despite the largely gloomy predictions, nobody knows what will happen to the infamously unpredictable and volatile digital token in the long term. For now, the Bitcoin liquidation appears to have levelled off, but concerns over the start of the next “crypto winter” are still having investors on edge, making getting in on a considerably reduced price a risky bet — just as it has always been. Bitcoin crashed to a six-month low this week, dipping to just above $95,000 by Friday morning. After months of intense volatility, crypto traders are struggling to maintain a cohesive narrative as the blows keep coming.
Bitcoin has wiped out hundreds of billions of dollars in total market value, dropping below $92,000 for the first time since mid-April. The cryptocurrency industry is reeling following Trump’s sweeping global tariffs, with Bitcoin plummeting by thousands of dollars. It is now unprofitable for all but the most advanced crypto operations to mine Bitcoin in the United States. A Bitcoin account has cashed out cryptocurrency they originally bought for $54,000 for a staggering profit of over 17 million percent.
Two Bitcoin wallets that remained untouched for more than a decade just came back online — and whoever owns them are now filthy rich. Following a major Bitcoin crash, prices fell to two-month lows around $81,000 and later hovered near $84,000 by Friday afternoon as major digital assets slid and crypto bets were liquidated. The weakness points to broader risk-off sentiment, with traders watching for further downside support and potential capitulation. Analysts warn of additional downside, with forecasts ranging from $70,000 to $75,000, even as some expect a rebound to around $100,000 later in the quarter.
The market narrative remains unsettled as experts weigh whether this is a temporary pullback or the onset of a prolonged crypto winter, particularly as macro factors like monetary policy and liquidity persistently influence prices. The ETF landscape adds to the gloom, with the top 12 Bitcoin ETFs recording three straight months of net outflows—the first such streak since their 2024 launch. In this environment, Bitcoin briefly dipped below $92,000 and traded near a six-month low, underscoring the ongoing volatility and uncertain path ahead for crypto investors.
Leave a Reply