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Bitcoin traded at $78,468, down 6.6% in the past 24 hours, after briefly dipping to around $77,019 intraday. The move comes as Bitcoin marks its lowest level in roughly nine months. Ethereum fell 10.25% to $2,430, while XRP and Solana declined 5.24% and 11.04%, respectively.
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Market sentiment deteriorated, with the fear-and-greed index from Alternative recording Extreme Fear at 14, down from the previous session. Analysts attributed the broad pullback to reevaluation of U.S. rate expectations amid political headwinds and a looming tightening path following the anticipated confirmation of Fed leadership. Forbes argued the selloff reflects investors rethinking the outlook for rates in the United States, contributing to renewed concerns about liquidity and demand for crypto assets.
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Bloomberg warned that Bitcoin may enter its longest monthly decline since 2018, with some forecasts pointing toward a test of the $50,000 area. Louis Nabellier of Nabellier & Associates noted that, for investors wary of fiat currencies, silver and gold are becoming investment options. John Todaro of Needham highlighted that retail investor apathy could keep trading volumes depressed for another quarter or two.
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Mike McGlone of Bloomberg Intelligence cautioned that the crypto bear market may still be in its early stages, signaling potential further declines. He compared the current downturn to the 1929–1930 period and projected that Bitcoin could fall to around $50,000 if the trend persists into 2026. Louis Nabellier and John Todaro’s observations, taken together with macro headwinds, underscore a broad narrative of heightened caution among market participants.
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