Bitcoin’s price has sharply declined, falling to approximately $75,000 following a significant sell-off in the cryptocurrency market. This drop has pushed Bitcoin about 10% below its recent highs, marking the first time since April 2025 that it has fallen below $80,000. Data shows Bitcoin’s value plunged from $84,356 to $75,644 within a single day, driven by increased selling pressure on major exchanges. This represents one of the steepest one-day declines of the year and triggered widespread liquidations in derivatives markets.
The downturn accelerated after Bitcoin failed to maintain support at $82,500, rapidly crossing low-liquidity zones and encountering minor buying interest near the mid-$70,000 range. Analysts interpret this movement as a sign of deleveraging in the market rather than a typical shift to risk-off sentiment. On the daily chart, Bitcoin broke a rising trendline established since late December and dropped below its 50-day moving average, which now acts as a resistance level. Trading volume surged, indicating intense selling and margin liquidations.
Despite the price decline, on-chain data reveals renewed interest from new buyers, with the number of new Bitcoin addresses reaching a nearly two-month high in the past 24 hours. The price drop has been more severe than recent declines in traditional markets, though gold also fell more sharply, highlighting Bitcoin’s relative resilience. Traders are currently watching for a price recovery between $82,000 and $84,000; failure to regain this range could lead to further downside, with the next major support expected around $70,000. Long-term focus remains on market stabilization.
This downturn coincides with a partial U.S. government shutdown caused by Congress’s failure to approve the annual budget, increasing market uncertainty. Bitcoin is currently trading near $77,825, reflecting a roughly 7% decline over the last 24 hours, with daily trading volume close to $75 billion.
Source: bitcoinmagazine
