Bitcoin dropped $1,600 in 60 minutes on Wednesday, falling below $73,000 for the first time in weeks. Ethereum fell to $1,978, down 4.42% on the day. XRP dropped to $1.28, down 3.56%. The total crypto market cap declined 2.97% to $2.45 trillion.
On Wednesday, Bitcoin’s price showed downward momentum, falling below the $75,000 mark and trading at $74,570 at the time of writing. This decline led to a loss of nearly 3% of its weekly value and once again pushed its market capitalization below $1.5 trillion.
Bitcoin fell below the $76,000 mark on Wednesday, as renewed geopolitical tensions in the Middle East and significant outflows from exchange-traded funds (ETFs) put pressure on the cryptocurrency market — even despite gains in technology stocks on Wall Street and in Asia.
On Tuesday morning, bitcoin experienced a sharp $2,000 drop, falling below the $76,000 support level just three hours after reaching a peak of $78,000.
$XRP faced massive selling on Binance, yet the price held above the April resistance zone. This shifted attention to the state of liquidity and whether nearby support will be able to withstand renewed pressure from sellers.
Bitcoin dropped below the $77,000 mark on Tuesday amid renewed U.S. strikes on Iranian targets, which weakened hopes for a near-term peace agreement and added pressure to the world’s largest cryptocurrency alongside slowing inflows into exchange-traded funds (ETFs).
Bitcoin declined on Saturday, trading above the $74,000 level as investors remained cautious amid ongoing geopolitical tensions in the Middle East and uncertainty surrounding cryptocurrency regulation in the United States.
On Friday evening, Bitcoin dropped to $75,120 per coin, posting a daily decline of 2.8%. This daily fall delivered another blow to an already difficult week for the market, bringing weekly losses to approximately 5%.
Bitcoin once again attempted to consolidate above $78,000, but the rally quickly slowed amid worsening macroeconomic expectations in the United States. Pressure intensified following weak guidance from Walmart, rising oil prices, and renewed concerns surrounding the policy of the Federal Reserve System.
Bitcoin moved into a downward trend as active trading began on US exchanges. According to TradingView, shortly after the opening bell on Wall Street, the BTC/USD pair corrected below the $77,000 level.
According to the latest reports, the U.S. Securities and Exchange Commission has postponed its plan to allow the creation of cryptocurrency-based versions of US stocks. As a result of this development, the decentralised cryptocurrency exchange Hyperliquid, which is primarily focused on real-world assets (RWAs), experienced a sharp price decline.
Bitcoin edged lower on Thursday near $77,000 levels and was set for a weekly loss, as a fresh wave of liquidations and lingering uncertainty over U.S.-Iran negotiations weighed on broader risk sentiment.
Bitcoin lost its recent gains after failing to hold above the $78,000 level and falling back to just above $77,000.
On Tuesday morning, Bitcoin traded near the $76,738 mark as traders monitored the narrowing consolidation range following a strong multi-week rally. Technical indicators across the hourly, four-hour, and daily charts remained mixed, pointing to cautious market behaviour. The support level around $76,000 held firm, remaining the key factor determining the short-term direction of price movement.
Trading firm QCP Capital released a new market report explaining Bitcoin’s breakdown below $78,000 and why the move occurred precisely at this moment.
On Monday, Bitcoin fell below the $77,000 level, extending its weekend losses as rising global bond yields and oil prices amid escalating tensions surrounding Iran dampened investor appetite for risk assets.
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