Key facts
- Bitcoin fell to approximately $59,685, its lowest level since October 2024.
- The total crypto market value has dropped by over $2 trillion since its October 2025 peak.
- Increased outflows from Bitcoin ETFs and renewed geopolitical tensions are driving the sell-off.
- Ethereum fell 12.8% to $1,550, its lowest since April 2025.
- The crypto Fear & Greed Index dropped to 16, indicating 'extreme fear'.
Bitcoin (BTC) has accelerated its decline, falling to approximately $59,685 on Friday, marking its lowest level since October 2024. This sell-off has extended to the broader cryptocurrency market, with the total value shedding over $2 trillion since its peak in October 2025. According to Bloomberg, the recent downturn is attributed to a combination of factors, including a significant increase in outflows from Bitcoin exchange-traded funds (ETFs) over the past month and renewed geopolitical tensions impacting investor sentiment. Smaller tokens have also weakened, with Ethereum (ETH) sliding 12.8% to $1,550, its lowest point since April 2025. Other major cryptocurrencies such as XRP, Solana, and Dogecoin have each dropped more than 5%. Market sentiment has deteriorated sharply, as indicated by the crypto Fear & Greed Index falling to 16, signaling 'extreme fear'. Bitcoin is now down over 50% from its all-time high of around $126,000 reached in October 2025, with its market value decreasing from approximately $2.5 trillion to $1.2 trillion. Kalshi traders are predicting Bitcoin to end the year around $65,000, which would still leave it significantly below its all-time highs.