Bitcoin, the largest cryptocurrency, on Thursday fell over 5 percent, reaching $83,740 during intra-day trading as the cryptocurrency market experienced selling pressure.
Bitcoin has plunged nearly 20 percent from its record high since Donald Trump's inauguration in January, as his aggressive approach toward both allies and geopolitical rivals has hit investor confidence, sparking a risk-off sentiment. A record-breaking hack of the Bybit exchange last week also rattled the crypto market.
Bitcoin fell for a fourth consecutive day, dropping around 5.6 percent to $83,744, bringing its decline of the period to around 13 percent. That’s the biggest four-day slump since August. Other tokens such as Ether and Solana continued to be hit harder, with each down between 7 percent and 10 percent, respectively.
According to experts, ETF outflows and Trump’s EU tariff threats have further pressured the market, with some anticipating a fall in BTC prices to $74K.
“The crypto market has entered a bear phase with Bitcoin declining over 20% from its January peak of $109,350 to an intraday low of $83,740. Bitcoin’s decline below $85K is the largest sell-off of 2025, with 79.3K BTC sold at a loss in 24 hours, and a $300 billion flash crash in the crypto market signals rising volatility and investor anxiety,” said Avinash Shekhar, co-founder and EO of Pi42.
“Meanwhile, XRP’s open interest has hit its lowest level in 2025, reflecting broader uncertainty in altcoins also. Institutional selling and macroeconomic instability have shaken confidence, raising questions about whether the crypto market is facing a temporary correction or the start of a deeper downturn," Shekhar noted.
"While Bitcoin’s dominance is rising, suggesting some long-term faith remains, the increasing frequency of flash crashes and aggressive liquidations indicates a fragile market. The coming weeks will test whether Bitcoin and crypto can withstand these pressures or if further declines are on the horizon,” Shekhar added.
(By arrangement with livemint.com)
