MarketMoodz
Bitcoin slides as crypto winter deepens: what investors should know
Bitcoin fell below $66,000 on Thursday, its lowest level in more than a year, as a broad risk-off mood weighs on crypto prices. By 2:45 p.m. ET, the token was down more than 10%, underscoring a developing crypto winter investors cannot ignore.
Key Takeaways
- Bitcoin traded below $66,000, its lowest intraday level in more than a year
- The drop surpassed 10% by 2:45 p.m. ET, signaling a sharp intraday move
- Breaking below the $70,000 level suggested more downside risk
- Barry Bannister projects a potential bottom near $38,000
- Bitcoin ETFs began trading on U.S. stock exchanges about two years ago, improving accessibility for investors
People Involved
- Barry BannisterChief Equity Strategist, Stifel
- Matt HouganChief Investment Officer, Bitwise Asset Management
- Carolyn McClanahanFounder, Life Planning Partners
- Donald TrumpPresident of the United States
- Michael BurryInvestor
Entities Involved
- Bitwise Asset ManagementAsset management firm
- StifelInvestment bank and broker-dealer
- Life Planning PartnersFinancial planning firm
- Morgan StanleyFinancial services firm
- U.S. stock exchangesTrading venues for Bitcoin ETFs
MarketMoodz Analysis
Investors are wrestling with a sharp, macro-driven pullback in Bitcoin that underscores a broader risk-off regime. Excess leverage and profit-taking by early crypto participants are weighing on prices even as ETFs expand access and liquidity for traditional investors, potentially amplifying inflows and outflows.
Hougan attributes the current downturn to a crypto winter that began in January 2025, with early institutional enthusiasm masking retail selling and complicating the supply-demand dynamic for BTC.
Looking ahead, traders should monitor key price levels near $66,000 and $70,000, on-chain liquidity signals, regulatory developments under a pro-crypto narrative, and the pace of Fed policy moves, as these factors will determine whether the cycle intensifies or begins to turn as liquidity improves.
Source: Original Article