Bitcoin has fallen to its lowest level in six months as investors turn cautious and sell off risky assets. On Friday, the world’s largest cryptocurrency dropped to $95,885.33, its lowest point since early May 2025. Ether, the second-largest cryptocurrency, also fell to a more than one-week low of $3,175.22. This drop comes amid growing concerns about the broader market and expectations for U.S. interest rates.
The decline has pushed Bitcoin into what analysts call bear market territory. The cryptocurrency has fallen more than 20% in just over a month, while the overall crypto market capitalization has dropped by over $1 trillion, or about 24%, since peaking in early October. Such a sharp fall has alarmed many investors who had been expecting continued growth in digital assets.
Part of the selling pressure comes from long-term Bitcoin holders taking profits. In the past 30 days, these investors sold around 815,000 BTC, the highest amount since January 2024. Analysts see this as a sign that even experienced holders are cautious and are choosing to lock in gains rather than wait for further price increases.
The recent price moves also show that cryptocurrencies are closely linked to the performance of traditional markets. According to experts, Bitcoin and other digital assets tend to rise when stocks do well and fall when investors are hesitant to take risks. This means that in times of market uncertainty, cryptocurrencies do not always act as a safe haven or a hedge against fear in other sectors.
Investor sentiment has been further affected by expectations around the U.S. Federal Reserve’s interest rate decisions. Earlier this month, the market was optimistic about a possible rate cut, but this expectation has declined sharply. Currently, markets see only about a 40% chance of a rate reduction in December, down from roughly 90% earlier. Fed officials, including Kansas City President Jeffrey Schmid, have expressed concern about inflation remaining “too hot,” which has increased caution among investors.
Large withdrawals from crypto exchange-traded funds have also added to the pressure. On Thursday alone, about $870 million was withdrawn from such funds, reflecting nervousness among market participants.
Overall, the combination of profit-taking, falling market confidence, and uncertainty around interest rates has created a bearish backdrop for Bitcoin. Analysts warn that prices may remain under pressure in the near term as investors continue to monitor economic developments and adjust their positions. For now, the cryptocurrency market faces a period of heightened caution, with risk-off sentiment keeping many traders on the sidelines.
The entire crypto industry, including leading entities like Marathon Digital Holdings Inc. (NASDAQ: MARA), will be hoping that the positive momentum of cryptos regains its footing and consolidates at higher levels.
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