Bitcoin fell sharply on Saturday, going below $80,000 for the first time since April 2025. This drop happened because there was more selling pressure and not enough new investments in the crypto market.
During trading in New York, Bitcoin’s value dropped by 10% to $75,709.88, losing more than 30% of its highest value. Ether also fell by 17%, while Solana dropped over 17%, showing weakness in major cryptocurrencies.
This sell-off caused a loss of about $111 billion in the total value of the crypto market in just 24 hours. Around $1.6 billion in risky trading positions were closed during this time, mostly in Bitcoin and Ether.
Market analysts say Bitcoin is struggling to attract new investors. Ki Young Ju, a leader at CryptoQuant, explained that Bitcoin’s value has stopped growing. He said that when market value drops without new money coming in, it does not show a strong market.
Ju noted that early Bitcoin investors have large unrealized gains from the past. However, many are now selling their holdings, which adds to the market’s challenges. He believes the market may not recover quickly but will likely stay stable for a longer period.
Vocabulary List:
- Cryptocurrency /ˈkrɪp.toʊ.kɜr.ən.si/ (noun): A digital or virtual currency that uses cryptography for security and operates independently of a central authority.
- Sell-off /ˈsɛlˌɔf/ (noun): A rapid selling of a security or asset typically causing a significant price decline.
- Investments /ɪnˈvɛst.mənts/ (noun): Assets acquired with the goal of generating income or appreciation.
- Pressure /ˈprɛʃ.ər/ (noun): The exertion of force upon a surface by an object in contact with it.
- Attract /əˈtrækt/ (verb): To draw by appealing to the emotions or senses; to entice.
- Unrealized /ʌnˈriə.laɪzd/ (adjective): Not yet converted into cash or actual profit; represented on paper but not cashed out.
