Bitcoin falls to 15-month low
Bitcoin plunged below $70,000 on Thursday, a level not seen in 15 months, as global markets embraced a broad risk-off mood. The largest cryptocurrency lost over 44% since its October 2025 peak, tumbling as low as $69,821 in early New York trading. Bitcoin now hovers near levels last seen after Donald Trump’s election win in November 2024.
“The market is currently navigating a ‘crisis of faith,’” said Shiliang Tang, managing partner of Monarq Asset Management.
Cross-asset stress drives crypto losses
Earlier declines stemmed mainly from crypto-specific liquidations. Recent pressure comes from wider cross-asset stress. Coinglass data shows traders liquidated $722 million of bullish positions across tokens in the past 24 hours.
“Liquidations have been heavy, sentiment has swung risk-off, and price action now reflects balance-sheet mechanics more than narrative flow,” said Wenny Cai, chief operating officer of trading platform SynFutures. “This doesn’t signal the end of institutional participation, but it marks the end of complacency.”
Equity markets saw synchronized selling on Wednesday, with the Nasdaq 100 dropping over 2%. Losses spread across software, chipmakers, and other rate-sensitive sectors, continuing into Thursday in Asia and Europe.
ETF flows and market sentiment under pressure
Despite broader equity declines, Bitcoin and other tokens had already slid for months. “Crypto sentiment sits in extreme fear as the market routed over the last week,” said Andrew Tu, head of business development at crypto market maker Efficient Frontier. “If $72,000 doesn’t hold for Bitcoin, we will likely visit $68,000 and could even return to 2024 lows after the initial rally.”
US-listed Bitcoin exchange-traded funds (ETFs) experienced volatile flows. Investors poured in about $562 million on Monday, then withdrew over $800 million in the next two sessions, Bloomberg data shows.
Investors increasingly question Bitcoin’s role as a safe haven. The token dropped nearly 20% this year, while the broader crypto market lost more than $460 billion in value over the past week.
“At current levels, Bitcoin has returned to an area that resisted upward moves from March to October 2024,” said Alex Kuptsikevich, chief market analyst at FxPro. “This explains why bargain hunters are showing strong interest.”
Source: Bloomberg
Also read: Gold and silver prices tumble after record highs
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