Bitcoin Crashes Below $70,000: The crypto market saw another big fall on Thursday as bitcoin dropped below $70,000. This is the lowest level seen in about 15 months. In just one day, bitcoin lost almost 9% and over the past week it has fallen more than 20%. The price touched around $69,200, far away from its October high of $126,198. At the same time, money moved out of risky assets and into safer ones, but even gold and silver started falling after earlier gains. The US dollar became a little stronger after President Donald Trump signed a bill to end the government shutdown.
Britain’s Largest Bitcoin Treasury Firm Starts Trading on London’s Main Market
Gold prices dropped 2.8% to $4,821, while silver crashed more than 13% to $76.37. Futures data showed gold down 1.4% and silver down over 10%. This showed that fear is spreading across markets, not just crypto.
Experts Warn more Pain May Come
Analysts believe bitcoin may not be done falling. Stifel warned that bitcoin could drop as much as 70% from its record high, possibly reaching $38,000. Bitcoin has already fallen nearly 45% from its peak, reported Investor.
Wenny Cai from SynFutures explained that the fall below $70,000 caused heavy selling. She said bitcoin’s move has “accelerated a broader deleveraging,” meaning too much borrowed money was forced out. She added, “Liquidations have been heavy, sentiment has swung risk-off, and price action is now being driven more by balance-sheet mechanics than narrative flow.”
She also said, “This doesn’t signal the end of institutional participation, but it does mark the end of complacency.” According to her, crypto is now competing with a strong dollar and higher yields. “The result is a market that looks less cyclical and more macro-sensitive,” she said. Still, she noted that blockchain use is growing. “Capital isn’t abandoning crypto rails but it’s using them differently.”
Gold and Silver Prices Today in India: Should You Buy the Dip? Full Report Inside
Lawmakers Clash as Crypto Stocks Drops
In the US the talks around the Clarity Act slowed after reports of a $500 million Trump-linked deal raised concerns. Senator Cory Booker said, “It has created more of a sense of moral urgency for us to have ethics as part of this.” Senator Adam Schiff said the law should not “treat the president differently than any other federal employee.” Senator Cynthia Lummis disagreed and said it was “another attack on Trump that is pretty baseless, to be honest.”
Meanwhile the crypto exchange Bullish beat earnings estimates but its stock still fell nearly 9% as bitcoin dropped. Rival Coinbase shares also slid more than 5%.
