Bitcoin, the world’s largest cryptocurrency, experienced a significant downturn this week as its price dropped more than 13 %, falling to around $62,000 a level not seen since October 2024.
The sell‑off accelerated on Thursday, dragging the token below $64,000 amid broader market weakness and heightened risk‑off sentiment among investors, before briefly bouncing amid volatile trading.
Yahoo Finance The sharp slide came as global financial markets faced pressure, with major stock indexes also ending lower.
This broad risk aversion hit cryptocurrencies especially hard, reinforcing the correlation between digital assets and traditional markets in times of stress.
Analysts pointed out that the accelerated losses were driven by a mix of factors, including investor retreats from risk assets, increased liquidations, and lingering uncertainty about future catalysts for crypto markets.
Sentiment gauges for Bitcoin and the broader crypto sector have sunk to multi‑year lows, reflecting a growing fear and uncertainty phase within the market.
Earlier in the session, Bitcoin briefly dipped toward the $60,000 mark before recovering modestly above $65,000, illustrating the heightened volatility gripping digital markets.
Despite the rebound, the ongoing sell‑off has erased significant gains made since last year’s peak, and many market observers remain cautious about near‑term price direction.
This drop underscores persistent challenges for cryptocurrencies as they contend with shifting investor sentiment, macroeconomic headwinds, and evolving regulatory landscapes.
As traders and holders reassess positions, the coming days are expected to be crucial for gauging whether the downturn will deepen or if a stabilization phase is emerging.
Source: The Guardian
