Bitcoin’s in rough shape. On Thursday, it crashed to $88,522—its lowest point in months—and pulled the entire crypto market down with it. In just a few weeks, more than $1 trillion vanished from the market. The total value dropped from more than $4.3 trillion to about $3.2 trillion, deepening a nasty six-week selloff. Bitcoin alone has lost over a quarter of its value since October. Once it fell below $92,000, the selloff really picked up speed. Futures liquidations hit hard, and selling pressure exploded everywhere.
Traders Under Pressure as Liquidations Surge and Macro Fears Grow
There’s a lot going against risk assets right now. Treasury yields keep climbing, and the Fed doesn’t look ready to cut rates anytime soon. That’s made investors even more jittery—especially in a market as wild as crypto. Altcoins got hit even harder, shedding value fast, while liquidity on exchanges started to dry up.
Still, there’s a bit of a floor forming. Traders are watching the $88,000 to $90,000 range closely. If Bitcoin drops below that, analysts warn it could dive toward $75,000. Forced liquidations and another wave of global risk aversion are real threats, and nobody wants to see that.
A Weak Rebound, but Uncertainty Rules
Bitcoin edged up 1.9% Thursday morning in London, lifted by strong sales forecasts from a big tech firm. Because of that update, fears over weaker AI investment cooled slightly – those concerns had weighed on digital coins earlier this week. But let’s be real—this was a cautious move, not a full return of confidence.
Right now, the crypto crowd’s divided. Some investors see a buying opportunity and have started to step in, but plenty of others still expect more pain ahead. After losing over $1 trillion in just weeks, nerves are shot. The next round of macro data will likely set the tone for where Bitcoin goes next.
