Bitcoin price today remained under heavy pressure as the world’s largest cryptocurrency slid to around $76,000, after briefly plunging to $73,000—its lowest level in 15 months. The sharp decline came amid a broad risk-off sentiment across global financial markets and a massive wave of liquidations in leveraged crypto positions.
The downturn was not limited to Bitcoin alone. Major altcoins such as Ethereum, Solana, Cardano, and Polygon also posted steep losses, reflecting a widespread sell-off across the digital asset sector.
According to international trading data, Bitcoin was recently down 2.8% to $76,509 at 01:56 ET (06:56 GMT). Earlier in the session, it touched $73,004, a level not seen since November 2024.
The decline has been persistent:
Bitcoin fell nearly 12% last week
It had already dropped around 10% the week before
This means that in just two weeks, Bitcoin has erased more than one-fifth of its value, wiping out gains accumulated after the post-U.S. election rally.
Data from crypto analytics firm CoinGlass showed that nearly $740 million worth of long positions were liquidated within 24 hours. As prices tumbled, margin calls were triggered across exchanges, forcing traders to close positions and fueling a cascade of additional selling.
Leverage—often described as a double-edged sword—magnified the market’s movements. Many retail traders had bet on a continued Bitcoin rally, but the sudden reversal left them facing heavy losses.
The current weakness marks a dramatic turnaround from late last year, when Bitcoin surged following Donald Trump’s U.S. election victory. Investors at the time expected the new administration to adopt a more crypto-friendly regulatory stance, encouraging institutional inflows.
Bitcoin also benefited from the Federal Reserve’s interest-rate cuts starting in December 2024, which boosted appetite for riskier assets.
Those bullish expectations are now fading as macroeconomic and political uncertainties return.
Gold and traditional safe-haven assets rebounded on Wednesday as tensions between the United States and Iran escalated. Capital rotated away from high-risk assets such as technology stocks and cryptocurrencies toward more stable investments.
Despite being marketed as “digital gold,” Bitcoin has struggled to act as a hedge during periods of stress, undermining short-term investor confidence.
Another source of pressure is the nomination of Kevin Warsh, former Federal Reserve governor, as the next Fed chair by Donald Trump. Warsh is widely viewed as a monetary hawk, prioritizing inflation control over liquidity support.
A more restrictive Fed policy could hurt risk assets like Bitcoin by raising borrowing costs and reducing speculative demand.
The broader cryptocurrency market showed deeper losses:
Ethereum (ETH) fell 2.3% to $2,268
XRP slipped 1.1% to $1.59
Solana (SOL) plunged 6%
Polygon (MATIC) dropped 3.5%
Cardano (ADA) also weakened notably
Altcoins typically suffer larger declines than Bitcoin due to lower liquidity and heavier use of leverage, highlighting the defensive mood dominating the market.
Analysts believe the $72,000–$74,000 zone is now critical support. A break below this range could open the door to a slide toward $68,000 or even lower.
To regain bullish momentum, Bitcoin would need to reclaim the psychological $80,000 level with improving trading volumes.
Given the extreme volatility, experts advise:
Avoiding excessive leverage
Diversifying portfolios
Closely monitoring Fed decisions
Waiting for clear bottoming signals before aggressive buying
The movement of Bitcoin price today shows that the cryptocurrency market is entering its toughest phase since late 2024. Massive liquidations and unfavorable macro conditions have pushed Bitcoin to a 15-month low, dragging the entire altcoin sector down with it.
While the long-term outlook for blockchain technology remains constructive, the near-term environment calls for caution. Upcoming trading sessions will determine whether Bitcoin can defend key support levels or face a deeper correction.
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