A sharp drop hit Bitcoin lately, pushing prices toward their weakest point since early 2023. Nearly $12 down for every hundred just yesterday, it now trades near sixty thousand dollars, according to figures on CoinMarketCap. Once hovering near seventy-two thousand, the descent has been relentless. Four months back, it stood at about one hundred twenty-six thousand - today, less than half remains.
This plunge highlights how deeply the current market retreat is cutting.
What stands clear is how ongoing sell-offs, paired with steady withdrawals from spot Bitcoin ETFs, weigh heavily on price direction. Around $60,000, any upward movement in Bitcoin has stalled - this pattern, according to Pi42's co-founder and chief executive, Avinash Shekhar, shapes a guarded mindset among investors. Each time gains slip away, trust in short-term rebound weakens. With swings growing sharper, hesitation lingers in trader behavior.
Even after a steep drop, Bitcoin showed signs of steadiness around $65,000 by Friday morning in Indian markets. Still, the overall market value fell almost 9 per cent, landing near $1.3 trillion. Trade spiked dramatically - volume climbed above 90 per cent - as approximately $143 billion in Bitcoin shifted in just one day. Around half of all cryptocurrency investors kept leaning toward major coins under pressure, with Bitcoin holding nearly 58 per cent share. Stability returned slowly while trading intensity stayed high.
Despite stronger signals elsewhere, wider economic pressures continue to cloud investor mood.
According to Giottus chief executive Vikram Subburaj, conditions now reflect a typical pullback environment - liquidity shrinks while buyers hesitate and global concerns linger without resolution. When examined closely, shrinking exchange-traded fund flows along with strained blockchain metrics have together dampened appetite for crypto holdings, deepening the drop seen over recent seven-day periods.
This drop marks the toughest stretch for digital currencies since last October, just ahead of Donald Trump securing the presidency amid pro-crypto signals throughout his run.
Not only Bitcoin feels the heat - Ethereum, BNB, Solana, XRP, Dogecoin, Cardano, and Bitcoin Cash all slid 9 to 13 percent in tandem. Sector-wide losses suggest a widespread pullback, not an isolated dip. Despite earlier momentum, confidence now appears fragile across major assets.
Besides the plunge, crypto's overall market value now sits near $2.22 trillion. That fall means losses exceeding $2 trillion since the high mark of about $4.39 trillion seen in October 2025, nearly half vanishing within only four weeks. Rather than stabilizing, investor mood has soured due to swings in metals like gold and silver - normally seen as secure - alongside slumping stock markets.
Because of these shifts, appetite for risk-heavy assets has cooled noticeably.
Despite weaker US job figures and rising worries over big spending in AI, the cryptocurrency space stays under pressure, says Akshat Siddhant of Mudrex. Because global markets show caution, downward trends hold firm for now. Yet, within this pullback, patient Bitcoin holders might find pockets of value worth watching closely. Though short-term volatility lingers, the broader downturn isn’t seen as a total barrier to strategic entry points. Following such dips carefully could matter more than reacting fast.
