Bloomberg: Bitcoin Breaks Below $80,000 Threshold, Confidence Crisis Intensifies
Odaily News Bitcoin briefly fell below $76,000 during the weekend's thin trading, marking a roughly 40% pullback from its 2025 high and setting the longest monthly losing streak since 2018. Market participants pointed out that this round of decline was not triggered by panic selling or systemic risks, but rather the result of a combination of disappearing buy-side pressure, contracting liquidity, and weakening confidence.
Data shows that Bitcoin has been slow to react to geopolitical tensions, a weakening US dollar, and rebounds in risk assets. Recent sharp fluctuations in precious metals also failed to trigger a rotation of funds into Bitcoin. Spot ETFs have seen continuous net outflows, institutional buying has noticeably cooled, and market depth remains more than 30% lower than the peak in October of last year.
Analysts generally believe the adjustment cycle is not over yet. Kaiko predicts that Bitcoin may need another 6 to 9 months to see a substantial recovery; some institutions have also warned that Bitcoin might struggle to reach new highs within the next 1,000 days. Overall, price, correlation, and market conviction are all under simultaneous pressure. (Bloomberg)
