Bitcoin Dips Below $80,000 with Ongoing Crypto Market Losses
Bitcoin fell as much as 10% to $75,709.88 during New York afternoon trading on Saturday. The sharp drop pushed the cryptocurrency below $80,000, its lowest level since April 2025. The fall came as part of a broader selloff in digital assets, driven by thin liquidity and weak buying interest. Overall, Bitcoin has now lost more than 30% from recent highs.
During the same session, other major tokens saw even bigger losses. Ether, the second-largest cryptocurrency, dropped as much as 17%, while Solana also fell over 17% at one point.
The selloff wiped out around $111 billion from the total crypto market value in the past 24 hours, according to CoinGecko. Data from Coinglass showed that about $1.6 billion in long and short positions were liquidated during this period. Most of these liquidations happened in the last four hours, mainly in Bitcoin and Ethereum trades.
This decline, which mirrors levels seen after the “Liberation Day” fallout, adds to weeks of disappointing performance for Bitcoin. The cryptocurrency has failed to react to market events that previously would have supported prices. Although the US dollar weakened for much of January due to investor concerns over policy risks under the Trump administration, crypto markets saw little benefit.
Bitcoin also failed to gain from gold’s rally to record highs. It did not attract fresh inflows even after gold and silver reversed sharply on Friday. In addition, delays in new US market structure rules for the crypto sector have reduced investor interest in digital assets.
“Silver and gold have become the preferred choice for investors worried about fiat currencies,” said Louis Navellier of Navellier & Associates.
The lack of buying interest has raised fresh doubts about Bitcoin’s role in investment portfolios. Once seen as both a high-growth asset and a hedge against currency risks, Bitcoin is now struggling to fill either role. Spot ETF outflows have continued, geopolitical tensions have not boosted demand, and investors continue to favor metals and cash as safe havens.
Bitcoin prices may also be under pressure due to rising tensions between Israel and Iran. Iran’s army chief has renewed warnings of a possible strike on Israel, while Donald Trump has threatened potential US military action against Iran.
“The current levels show very weak interest from retail investors,” said John Todaro, an analyst at Needham. He added that trading volumes could remain low for another quarter or two.
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