Bitcoin has officially crashed below the $80,000 mark, a psychological threshold that many thought would hold strong—at least until now. Sitting at around $79,800, it’s clear that the cryptocurrency is having a rough time. A 6% drop in just 24 hours? Ouch.
Bitcoin has plunged below $80,000, marking a rough day with a 6% drop—ouch!
And let’s not forget the staggering 27% decline from its January high of $109,000. Long positions? They’re feeling the heat too, with $327 million in liquidations over a mere 12 hours. Talk about a rough day at the office!
Historical context? Bitcoin‘s corrections have ranged from 30% to a jaw-dropping 85% from all-time highs. So, is this the beginning of another wild ride? Traders are eyeing support levels around $75,000, hoping they’ll catch a break. The profitability of Bitcoin mining may also be affected by these price fluctuations, making it harder for miners to maintain their margins.
Meanwhile, ETF outflows are giving everyone another reason to frown. A whopping $275 million left U.S. spot Bitcoin ETFs on February 27 alone, making it the largest outflow since these products rolled out. In February, over $2 billion vanished into thin air. It’s like a magic trick gone wrong.
Adding to the chaos, Bybit exchange just suffered a $1.4 billion security breach. Seriously? This brings the total lost in crypto hacks for 2025 to close to $1.6 billion. Confidence in digital assets is shaking like a leaf in a storm.
And if that wasn’t enough, proposed 25% tariffs on imports from Canada, Mexico, and the EU by Trump are adding fuel to the fire. Macroeconomic uncertainty is weighing heavily on investor sentiment, making the situation even more precarious. High unemployment resulting from a misunderstanding of monetary policy’s impact is also adding to the overall economic anxiety.
