Bitcoin Plunges 13% Below $64,000: Sell-Off Intensifies as Crypto Doubts Surge
Bitcoin has taken a hard hit. The price dropped 13%, breaking below <$64,000>. This sharp fall shows growing worries in the crypto world. Once called “digital gold,” Bitcoin now faces tough questions about its value.
What Happened to Bitcoin’s Price?
On Thursday, Bitcoin fell to a low of $62,303. It was last seen trading around $63,010. This marks the lowest point since November 2024. The drop broke key levels like $70,000 earlier in the day. Selling picked up speed after that.
This week alone, Bitcoin lost 20% of its value. Over the past year, it is down nearly 30%. Compare that to gold, which jumped 68% in the same time. Bitcoin’s peak was over $126,000 in early October. Now, it sits more than 45% below that high after three months of steady decline.
Why Are Investors Pulling Back?
Many hoped Bitcoin would protect against inflation and big economic problems. It was seen as a better choice than regular money or gold. But lately, that idea has not worked out.
Bitcoin moves like risky stocks, not safe assets. During troubles in places like Venezuela, the Middle East, and Europe, it fell with stocks. Real-world use for buying things stays low. People are rethinking if Bitcoin is truly useful.
This steady selling signals that traditional investors are losing interest, and overall pessimism about crypto is growing.
Experts point to changing moods. Traditional big-money players seem done with crypto hype.
Other Cryptos Feel the Pain Too
The drop is not just Bitcoin. Ether fell 23% this week, set for its worst week since late 2022. Solana hit $88.42, a two-year low, down 24% weekly. Even XRP and others are way down.
- Ether: Worst week in years.
- Solana: Two-year bottom.
- Overall market: Deep red across the board.
Key Levels to Watch in the Sell-Off
Traders eye $70,000 as a big mental barrier. Breaking it opens the door to $60,000-$65,000. Some say a push toward $60,000 is likely if it fails to hold.
Charts show worry signs. Bitcoin broke below its 365-day moving average. This is the first time since March 2022. Since then, it dropped 23% in 83 days—worse than past bear markets. A moving average smooths prices to spot trends.
Forced Sales Add to the Chaos
Big liquidations hurt too. Over $2 billion in crypto bets got wiped out this week. These happen when prices hit stop levels, forcing sales. It creates a snowball effect downward.
Institutions Flip from Buyers to Sellers
Last year, U.S. Bitcoin ETFs bought 46,000 coins around this time. Now, in 2026, they sell. Institutional demand has turned around. Big players who propped up prices are now cashing out.
Bitcoin isn’t trading on hype anymore. It trades on liquidity and capital flows. The bull run story lost its spark.
Links to Broader Markets
This Bitcoin plunge ties to stock market woes. Tech stocks sold off hard. A key tech ETF lost 2.8% on Wednesday after 2.2% the day before. Risky assets everywhere face pressure.
Even safe metals wobble. Silver plunged again, gold faces heat. No clear safe spot right now.
Bitcoin vs. Gold: A Stark Contrast
| Asset | 1-Year Change |
|---|---|
| Bitcoin | -30% |
| Gold | +68% |
Gold shines as a store of value. Bitcoin struggles to match it. This gap fuels doubts about crypto’s long-term role.
What’s Next for Bitcoin and Crypto?
Analysts see more downside risk to $60,000-$70,000. But crypto cycles are wild. Past crashes led to big rebounds. Watch for:
- ETF flows turning positive.
- Macro news like interest rates.
- Adoption news or regulations.
- Key support at $60,000.
The straight-line rally many expected did not happen. Now, prices depend on real money flows, not buzz.
Lessons for Crypto Investors
This 13% plunge below <$64,000> reminds us: Crypto is volatile. Diversify. Don’t bet it all on one asset. Use stop-losses to avoid liquidations. Long-term believers see this as a buy chance. Short-term traders watch levels closely.
Bitcoin’s story evolves. From hype to reality check. Will it prove its worth as digital gold? Time will tell amid the intensifying sell-off and surging doubts.
Stay tuned for updates as the crypto market navigates this storm.
