“Bitcoin has tumbled 44% from its October peak, falling below $70,000 for the first time in 15 months, losing more than $1.2 trillion worth of value.”
Bitcoin crashed despite every macro condition that was supposed to favor it. Weak dollar, crypto-friendly administration, global currency stress. None of it mattered. Institutional demand reversed, ETF inflows turned into outflows, and retail adoption collapsed from 17% to 12%. The worst part? This wasn’t the deepest drawdown ever on percentage terms, but the backdrop makes it worse.