Bitcoin’s 2025 Gains Vanish as Price Falls Below $93,000
In a surprising turn of events, Bitcoin—the world’s leading cryptocurrency—has erased all its 2025 gains, dipping below the $93,000 mark for the first time in nearly seven months. The cryptocurrency is currently trading at $92,123, reflecting a 2.3% drop in the past 24 hours and a staggering 13% decline over the past week, according to crypto price aggregator CoinGecko.
The decline coincided with a sharp increase in Bitcoin trading volume, which more than doubled in the past day, reaching $114 billion, as per data from CoinGlass. Additionally, over $335 million in Bitcoin derivatives contracts have been liquidated in the last 24 hours, pushing total crypto market liquidations to $725 million.
Key Factors Behind Bitcoin’s Downturn
Crypto analysts have identified a break below the 50-week moving average as a critical factor in Bitcoin’s recent slide. According to QCP Capital, a Singapore-based crypto trading firm, this technical move has contributed to an increasingly cautious tone across digital asset markets. Additionally, speculation around the delayed end of Bitcoin’s typical four-year market cycle has fueled bearish sentiment among investors.
Historically, Bitcoin undergoes a halving event approximately every four years, driving significant price shifts. Although many believed the halving cycle had ended in late 2024, some analysts now suggest the cycle’s conclusion may be postponed, adding uncertainty to Bitcoin’s future performance.
Critical Support Levels and Macroeconomic Uncertainties
Analysts are closely watching the $92,000 price level, which they identify as a critical support zone. This level coincides with an unfilled CME gap, increasing the likelihood of a short-term technical rebound. However, weak liquidity and rising macroeconomic uncertainties could hinder a sustained recovery, leaving the market in a precarious position.
The recent reopening of the U.S. government, following a record 43-day shutdown, has done little to improve investor sentiment. With ongoing concerns about global economic stability, the crypto market continues to face headwinds.
Prediction Market Trends
Users on Myriad, a prediction market backed by Decrypt’s parent company Dastan, are increasingly pessimistic about Bitcoin’s short-term outlook. The platform indicates a 63% probability that Bitcoin will fall to $85,000 before bouncing back to $115,000. This represents a 30% increase in bearish sentiment within just one day.
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