Bitcoin has extended its losses with a significant 10% drop, falling below the $70,000 price threshold for the first time since November 2024. This substantial decline represents a major correction from the digital asset's recent performance levels.

Market Performance

The cryptocurrency's extended losses demonstrate the severity of the current market correction. The 10% decline showcases the magnitude of selling pressure affecting Bitcoin, pushing it well below the psychologically important $70,000 level.

Recent Price Action

The 10% drop brings Bitcoin to levels not witnessed since November 2024, indicating a substantial correction from its recent trading ranges. This extended decline highlights the continued volatility that characterizes the cryptocurrency market and the rapid pace at which digital assets can lose value.

Market Context

The breach of the $70,000 threshold, combined with the 10% loss, demonstrates the dynamic and often unpredictable nature of cryptocurrency pricing. This level of decline in a short period underscores the high-risk nature of digital asset investments and the potential for significant value fluctuations.

Bitcoin fell to the $92,000 level while Ethereum moved closer to $3,200 as global risk sentiment weakened, putting pressure on the broader cryptocurrency market. The decline came after fresh tariff threats reignited tensions between the US and the European Union, raising concerns about a possible trade dispute. Bitcoin and Ethereum were trading at $92,652.00 and $3,214.00 respectively.

Market Performance Overview

The cryptocurrency market experienced significant selling pressure across major digital assets. The following table shows the 24-hour performance of leading cryptocurrencies:

Among major altcoins, BNB, XRP, Solana, Dogecoin, Cardano, and Hyperliquid fell over 7% in the same time period, while Tron bucked the trend with a 0.30% gain. The global crypto market capitalisation edged down 2.77% to $3.13 trillion, according to CoinMarketCap.

Weekly Performance Analysis

Despite the recent decline, weekly performance showed mixed results across the cryptocurrency landscape:

Market Analysis and Expert Commentary

Riya Sehgal, Research Analyst at Delta Exchange, attributed the decline to escalating tensions between the US and the EU after fresh tariff threats reignited fears of a trade conflict. She noted that this added to an already cautious environment shaped by delays to the US crypto market structure bill and cooling institutional inflows.

Nischal Shetty, Founder of WazirX, observed that the crypto market reflected a clear shift in global risk sentiment over the past 24 hours, driven by rising macro uncertainty and renewed trade-related tensions. He indicated that crypto markets are likely to remain choppy in the near term, with price action closely tied to global macro developments and shifts in risk appetite.

Trading Activity and Liquidations

The market downturn resulted in significant liquidation activity across cryptocurrency exchanges. Nearly $780.00 million in long positions were liquidated in the past 24 hours, with the largest single liquidation being a Bitcoin position of over $25.00 million on Hyperliquid, according to the CoinDCX Research Team.

Despite the selling pressure, Bitcoin ETFs recorded strong inflows of over $1.42 billion, helping stabilise prices around the $92,000.00 level, as noted by Akshat Siddhant, Lead Quant Analyst at Mudrex. The CoinSwitch Markets Desk reported that Bitcoin traded sideways mainly between $94,500.00 and $96,000.00 over the weekend before breaking below $93,000.00 as markets reacted to renewed US-EU trade war concerns.

Risk Management Recommendations

Vikram Subburaj, CEO of Giottus, advised investors to avoid over-leveraging positions and prioritise liquid majors such as Bitcoin and Ethereum. He recommended staggering entries rather than chasing short-term moves, emphasising that patience and disciplined risk management remain key in a macro-driven environment.