Bitcoin was slightly higher on Monday after the world’s largest cryptocurrency fell below $80,000 for the first time since April 2025.
Bitcoin was trading at $78,233.92 as of 3:35 p.m. ET Monday, according to CoinMetrics, up about 1% in the past 24 hours. Bitcoin fell as low as $74,876 but then pared some losses. The digital coin has fallen about 12% over the past seven days, wiping more than $200 billion from the bitcoin market, according to data from CoinMarketCap.
Bitcoin fell below $80,000 over the weekend.
The price of Bitcoin over the past year.
Dessislava Ianeva, research analyst at Nexo Exchange, told CNBC that Bitcoin’s pullback “coincided with a broader shift in risk aversion in global markets” and “was amplified by structurally weak weekend liquidity, rather than crypto-specific developments or signs of fundamental stress.”
Bitcoin often correlates with risky assets like stocks and can fall and rise with them. US stocks fell on Friday, led by tech names such as Microsoftwhich slipped 10% after its earnings disappointed investors.
This negativity spread across European and Asian stock markets earlier in Monday’s session, although major indexes in France, Germany and the United Kingdom ultimately closed slightly higher.
Gold and silver extended their losses on Monday. Silver fell 30% on Friday, its worst day since March 1980.
Bitcoin’s fall has been made worse by forced liquidations, when traders’ positions are automatically sold when they reach a certain price. More than $2 billion in long and short Bitcoin positions have been liquidated since Thursday, according to Coinglass data.
Liquidations can have a cascading effect on crypto markets, where the price can quickly drop as traders’ positions are liquidated.
Investors are also weighing the potential impact of Kevin Warsh, who was chosen to succeed Jerome Powell as chairman of the Federal Reserve.
Last week, digital asset investment products saw a second straight week of outflows totaling $1.7 billion, according to CoinShares. Year-to-date outflows now total $1 billion, “signaling a marked deterioration in investor sentiment toward the asset class,” James Butterfill, head of research at CoinShares, said in a note Monday.
Yuya Hasegawa, an analyst at Japanese crypto firm Bitbank, told CNBC that Bitcoin’s recent selloff “appears to have been driven by a combination of growing geopolitical risk, a decline in tech stocks triggered by Microsoft, and a collapse in precious metals — one of the few remaining safe havens for investors’ capital in recent weeks.”
Although Bitcoin has sometimes been touted as an asset to invest in during times of market volatility, it is down about 22% over the past year.
The price of gold versus Bitcoin over the past year.
Other cryptocurrencies were also down on Monday after a massive sell-off over the past few days, including ether And XRP.
Cryptocurrency liquidations on Saturday accounted for $2.56 billion, making it the 10th single-day event, according to Coinglass data.
Could Bitcoin fall further?
Crypto market participants told CNBC last month to expect volatility in bitcoin this year, with predictions for the price rising from $75,000 to over $200,000.
Bitbank’s Hasegawa said bitcoin’s “near-term bottom” could be closer to around $70,000, which could be a “key reference point.”
“A sustained move significantly below this level would likely require a significant reset of market conditions,” Hasegawa added.
However, some believe that Bitcoin could fall even further. John Blank, chief equity strategist at Zacks, said bitcoin could hit $40,000 this year.
“We can get there very quickly, or more likely, we will get there in the next six to eight months,” Blank told CNBC’s “Squawk Box Europe” on Monday.
Blank said he arrived at this number by looking at the lows and highs of previous cycles.
Bitcoin has already fallen between 70% and 80% from the all-time highs of recent “crypto winters.” Its record stands at $126,000, reached in October. $40,000 would be about a 70% drop from that level.
