Bitcoin has experienced a significant decline over the past 24 hours, extending its weekly losses to exceed 15%. The cryptocurrency reached a daily low of $73,111, marking its weakest point in the last fifteen months.
Following this drop, Bitcoin’s price partially recovered to $74,744 but still reflects a daily decrease of more than 4%. This downturn coincides with falling asset values across both cryptocurrency and traditional financial markets. Major indices such as the S&P 500 and Nasdaq Composite have dropped by 1.41% and 2.22%, respectively, during the most recent trading session.
The decline in these indices has been influenced by prominent technology stocks like PayPal (PYPL), which saw its shares plunge over 19% after releasing earnings results. Additionally, investor aversion to riskier assets is compounded by an ongoing partial shutdown of the U.S. government that has persisted into its fourth day.
Stocks linked to cryptocurrencies—including Coinbase exchange and treasury-focused companies Strategy and BitMine Immersion Technologies—have also suffered losses exceeding 7% since market open despite recent buying interest from investment firms such as Cathie Wood’s Ark Invest.
Other major cryptocurrencies like Ethereum and Solana have performed worse than Bitcoin itself; Ethereum fell nearly 9.6%, while Solana dropped about 7.1% within one day, trading at approximately $2,118 and $97.10 respectively—both below their levels seen during last April’s market bottom triggered by tariff concerns under former President Trump. These tokens currently trade at roughly 57% (Ethereum) and 67% (Solana) below their all-time highs recorded in early-2025.
Although Bitcoin has shown relatively better resilience compared to some altcoins, it remains the primary driver behind crypto liquidations over the past day—with nearly $234 million wiped out from long positions according to CoinGlass data—and total liquidations reaching around $659 million within twenty-four hours.
Looking ahead, Galaxy Digital’s Head of Research Alex Thorn warns that Bitcoin may face further downside risks due to structural vulnerabilities in its price action combined with an absence of immediate positive catalysts; he suggests it could trend toward its crucial support near the 200-week moving average around $58,000.
Thorn also pointed out how Bitcoin’s expected role as a hedge against currency debasement appears contradicted when compared with gold’s recent rally—which hit new record highs above $5,600 per ounce just last week—and continued strength even amid renewed declines for BTC on Tuesday.
The leading precious metal surged almost six percent on Tuesday amid broad weakness across risk assets before settling near $4,924 following recovery from earlier weekend drops.
Cathie Wood—who holds significant exposure through her firm Ark Invest along with optimistic forecasts for Bitcoin prices—noted recently that gold might currently be experiencing bubble-like conditions rather than sectors tied directly to artificial intelligence investments feared overheated by many market participants.
This sharp correction in Bitcoin pricing has caused sentiment shifts among traders using Myriad—a prediction platform managed by Dastan (parent company of Decrypt)—where expectations now lean towards BTC declining further down toward approximately $69K before rebounding strongly up towards a target near $100K again.
A week ago on Myriad predictions favored hitting that higher milestone ($100K) with odds close to seventy percent; however since then bearish outlooks have dominated sentiment completely reversing probabilities so there is now roughly seventy-five percent chance predicted for prices dipping first before any substantial upward move occurs.