Bitcoin Price Crash Sends Shockwaves Across the Crypto Market as Bitcoin Plunges Below $70,000
Bitcoin Price Crash : The cryptocurrency market has entered a sharp downturn as Bitcoin slipped below the $70,000 level, reaching its lowest point since late 2024. The original cryptocurrency dipped under $68,000, marking a steep decline from its all-time high of $126,000 recorded just four months earlier.
According to Binance, Bitcoin has fallen 46% from its peak, while investor confidence continues to weaken. The sell-off intensified after traders lost billions in crypto positions during October, triggering a prolonged slide that has continued into 2026.
Major crypto-related stocks have also been dragged down. Coinbase, the largest cryptocurrency exchange in the United States, has seen its share price decline nearly 50% over the past three months and is currently trading around $151. Strategy, a company focused on buying and holding Bitcoin, is down 54% in the same period.
Shares of Circle have also tumbled sharply. After trading as high as $263 following its IPO last year, the stablecoin company’s stock has dropped to around $52.
The downturn comes despite expectations that cryptocurrencies would thrive during a more crypto-friendly political environment. Following President Donald Trump’s election, the digital asset market experienced a surge that has since faded, leaving behind growing pessimism.
Bitcoin broke below $70,000 earlier in the week, with selling pressure accelerating as prices slipped toward $67,000. The cryptocurrency is down roughly 20% in a single week, according to market data.
Ethereum has also suffered heavy losses, declining more than 40% over the past three months to around $1,970. Solana has fallen nearly 50% during the same period, trading close to $83.
Investor caution has increased as macroeconomic uncertainty grows. Gold has gained significantly over the past six months, while cryptocurrencies have failed to act as a safe-haven asset during periods of economic stress.
Analysts point to political uncertainty, inflation concerns, and weakening job market conditions as factors encouraging investors to delay returning to risk-on assets. Institutional demand for Bitcoin has also reversed, with exchange-traded funds becoming net sellers in 2026.
Bitcoin has now fallen below its 365-day moving average for the first time since 2022, adding to concerns that further downside may lie ahead. Prediction markets show that many traders expect Bitcoin to dip below $60,000 in February.
Forced liquidations continue to weigh on prices, with billions of dollars in long and short positions wiped out in recent weeks. The broader crypto market has lost hundreds of billions in value as selling pressure spreads.
Bitcoin was recently trading near $65,160, extending a decline that has now lasted more than three months. Other cryptocurrencies, including ether and XRP, have also fallen sharply.
As the crypto market continues to slide, related stocks and exchanges are feeling the impact, with several companies tightening operations amid the ongoing sell-off.
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