Why Is Bitcoin Down Today? Brutal BTC Crash Sparks Bear Market Fears and $300B Wipeout
Bitcoin’s Shocking Plunge: A Snapshot of the Chaos
Bitcoin fans woke up to bad news today. The king of crypto, BTC, took a hit, dropping 0.7% to around $83,769. Ether did worse, falling 4.9% to $2,677. This is part of a rough streak – Bitcoin’s longest run of monthly losses since 2019. The total crypto market shed over $300 billion in value in just days. Liquidations hit $1.8 billion. Ouch.
Traders on social media are in panic mode. One post screamed: “This Bitcoin dip is BRUTAL. 📉 Started the week near $90,400 ➡️ now fighting to stay above $79,000.” Another asked the big question everyone is googling: Why is Bitcoin down today?
The Dollar’s Big Win and Fed Drama Fuels the Fire
The main trigger? The US dollar rocketed up in its biggest rally since May. Why? President Donald Trump named Kevin Warsh as his pick for Federal Reserve Chair. If the Senate approves, Warsh replaces Jerome Powell, whose term ends in May. A stronger dollar often hurts crypto prices. Investors flee to safe assets like the greenback when it shines.
This isn’t just noise. Trump’s policies, like tariffs, have rocked markets before. Remember the April 2025 tariff crash? Bitcoin hit lows not seen since then. Now, with Fed changes on the horizon, risk assets like BTC are paying the price.
Expert Warnings: Bear Market is Here
Crypto analyst Benjamin Cowen, founder of Into The Cryptoverse, dropped a bombshell in his latest YouTube video. “Bitcoin is in a bear market,” he said flat out. Cowen explained why the price is dropping and why it might keep falling. His data-driven take has thousands watching nervously.
“Today, we’re going to talk about Bitcoin and discuss why the price is dropping and why I think it will likely continue to drop. I do think Bitcoin is, in fact, in a bear market.” – Benjamin Cowen
Influencer Crypto Bitlord piled on: “The next major support for bitcoin is $30k.” That’s a scary drop from current levels. Long-time BTC skeptic Peter Schiff chimed in too. He said Bitcoin is now worth just 15.5 ounces of gold – down 57% from its 2021 peak and only 10% above 2017 highs.
Schiff mocked the hype: “Despite all the support from Wall Street and the Trump administration, most people who own Bitcoin would have been better off buying gold or silver.” His words sting, but they highlight Bitcoin’s struggle against traditional safe havens.
Technical Breakdown: Head-and-Shoulders Spells Trouble
Charts don’t lie. Analyst Victor Olanrewaju from CCN pointed to a classic bear signal. Bitcoin broke below the $86,400 neckline on the daily chart, confirming a head-and-shoulders pattern. This setup often means more downside ahead.
- Key Levels to Watch:
- Near-term support: $79,000
- Major support: $30,000 (per Bitlord)
- Resistance above: $86,400 neckline
Volume spiked on the sell-off, showing real conviction from bears. On-chain metrics? Whale selling and low holder conviction add fuel to the fire.
Why This Crash Feels Different in 2025
Bitcoin has crashed before – 2018, 2022 – but 2025 brings new twists. Trump’s pro-crypto talk clashed with dollar strength. Tariffs hit global trade, spooking investors. Altcoins like Ether tumbled harder, dragging the whole market down.
Compare to past dips:
| Event | BTC Drop | Market Cap Loss |
|---|---|---|
| April 2025 Tariffs | ~20% | $500B+ |
| Current Crash | 12% from $90K | $300B |
| 2022 Bear Market | 77% Peak to Trough | $2T |
History shows bounces follow pain, but timing is key. Is this the bottom or just round one?
What Happens Next? Predictions and Strategies
Optimists eye Fed cuts later in 2025 for relief. But bears like Cowen see months of grind lower. Key events:
- Senate vote on Warsh
- Upcoming tariff rollouts
- Bitcoin halving afterglow fading
For traders: Dollar index (DXY) over 110 is crypto’s enemy. Watch gold – if it outperforms BTC more, Schiff wins the argument.
Long-term holders? HODL through volatility. But newbies, zoom out: Bitcoin’s survived worse.
Final Thoughts on the Bitcoin Rollercoaster
The Bitcoin crash today reminds us crypto is wild. From $90K dreams to $79K reality in a week. Experts warn of deeper pain, but markets flip fast. Stay informed, watch the charts, and don’t FOMO in at peaks. What’s your take – bear market or buy dip? Drop thoughts below.
Bitcoin’s story is far from over. In crypto, down today often means up tomorrow.
