Bitcoin Falls

Glassnode's latest weekly on-chain assessment places Bitcoin well below its estimated 'true market mean' near $79,000

A strong recovery in Bitcoin above $70,000, analysts believe, could help restore broader market confidence, while failure to hold current supports may trigger another wave of risk-off sentiment

US futures and Asian shares traded mostly lower on Friday, tracking Wall Street's losses as technology stocks again dragged on markets. Bitcoin sank to roughly half its record price, giving back all it gained since US President Donald Trump won the White House for his second term. Tokyo's Nikkei 225 was up 0.5 per cent to 54,073.52, recovering from losses earlier this week, with technology-related stocks leading gains. SoftBank Group rose 1.9 per cent, and chipmaker Tokyo Electron rose 3 per cent. Japan will also be holding its general election on Sunday, in which Prime Minister Sanae Takaichi expects to win a stronger public mandate for her policies. South Korea's Kospi lost 1.7 per cent to 5,076.69, weighed down by tech shares. Samsung Electronics, the country's biggest listed company, fell 0.9 per cent. Chipmaker SK Hynix was down 0.6 per cent. Hong Kong's Hang Seng fell 1.2 per cent to 26,569.14. The Shanghai Composite index was flat at 4,075.37. In Australia, the S&P/ASX 200

Crypto markets have remained under pressure since October last year, after Bitcoin scaled its peak and has since been on a declining trajectory

Altcoins followed a similar risk-off trajectory. Ethereum, BNB and Solana reflected weaker bid depth during the pullback

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Bitcoin slipped below the $80,000 mark after failing to hold above $89,000, with the decline exacerbated by thin weekend liquidity

Bitcoin fell as much as 3.9 per cent to $81,102 Friday in Singapore, its weakest since Nov 21, extending a rout that gathered pace overnight

The macroeconomic sentiment for the crypto markets, analysts believe, remains closely tethered to the Federal Reserve's policy path

Bitcoin News: While the market appears oversold on short-term indicators, analysts said that has not been enough to establish a durable floor

In the near term, holding $88,000 could allow a relief bounce, while a break lower, analysts believe, may open downside toward $86,000-$87,000

While equities briefly rallied, the momentum failed to carry over to digital assets

Analysts remain cautiously optimistic but note that liquidity conditions and global macro developments will shape the near-term trajectory

Bitcoin shed more than $18,000 in November, as a record amount of money rushed out of the market, making this its largest dollar loss since May 2021, when a number of cryptocurrencies collapsed

Despite these headwinds, analysts believe macro liquidity from the Fed pivot could act as a stabiliser if capital rotation resumes toward large-cap cryptocurrencies

Crypto Market Crash: Analysts say the pullback reflects a consolidation phase rather than market capitulation, as participants digest recent selling pressure and await clearer macroeconomic signals

BTC price today: Analysts attribute the slide to uncertainty around potential US interest-rate cuts, broader weakness across equity markets, and profit-taking by large holders

The overall market sentiment remains dominated by fear, with the CoinMarketCap Crypto Fear and Greed Index registering at 27, firmly in the "fear" zone

The broader altcoin market mirrored the weak sentiment, with Story (IP) continuing its sell-off to emerge as the day's biggest laggard, plunging 28 per cent

Caution dominated trading activity, amplified by Wall Street's closure for the Labor Day holiday and concerns over a BTC whale potentially divesting another billion-dollar tranche of BTC