The first cryptocurrency has fallen below $80,000 for the first time since April 2025. The drop was triggered by forced liquidations totaling $2.55 billion, noted Wintermute analysts.
Experts called this event the tenth largest liquidation volume in the industry's history. Major sell-offs occurred over the low liquidity weekend. The market reacted to the news with a delay, 'digesting the accumulated negativity over the week.'
Experts have identified three reasons that triggered the bearish scenario:
Weak reports from tech giants. The results of the 'Magnificent Seven' companies, especially Microsoft, disappointed investors. This raised doubts about the sustainability of the narrative around artificial intelligence.
Nomination of Kevin Warsh. The nomination of the financier for the position of head of the Federal Reserve was initially perceived by the market as a signal for a tight monetary policy.
Collapse of precious metals. The drop in gold and silver triggered a wave of margin calls, which also affected digital assets.
Wintermute has confirmed the onset of a bear market. Cryptocurrencies are showing worse dynamics compared to traditional assets.
However, the current crisis is different from previous cycles. It is caused by macroeconomic trends and a natural reduction in debt burden ( deleveraging ), rather than the bankruptcy of large players like FTX or Terra. The market infrastructure has become stronger, and institutional interest has not disappeared but has entered a waiting mode.
Bitcoin is in a phase of 'price discovery'. Analysts have predicted a market recovery in the second half of 2026, when the further policy of the Federal Reserve becomes clearer.
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