BTC plunges 17% in a week, falling over 50% from its October peak near $126,000 as risk-off sentiment shifts capital away from crypto.
Bitcoin dropped below $60,000 last week, marking its lowest level since October 2024 and a 17% decline in just seven days. The selloff erased more than half of its value from its October peak of $126,000, as broader market turmoil and risk-off sentiment weighed on speculative assets.
The cryptocurrency had traded above six figures for much of the past year but faced renewed pressure as investors rotated into sectors like semiconductors and artificial intelligence. Analysts noted that capital previously allocated to crypto is now seeking higher returns in equities, with some stocks delivering 2-3x gains in weeks.
The sharp reversal has raised questions about the sustainability of bitcoin’s bull run, which had appeared stable just months ago. Trading volumes and sentiment indicators suggest caution among investors as the asset struggles to regain momentum.