Bitcoin dips below $79,000
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Bitcoin fell more than 7% on Saturday.
Bitcoin fell sharply on Saturday, tumbling below $80,000 to the lowest levels since April 2025 as part of a broader decline for digital assets.
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“Our worst-case scenario assumes a decline to the $1.8 trillion to $2 trillion range, with an extension to 161.8% of the initial downward momentum in October-November,” Alex Kuptsikevich, FxPro chief market analyst, said in emailed comments.
Bitcoin (BTC) and other cryptocurrencies has begun sliding and crashing in chunks. By Jan. 30, Bitcoin was trading at $81,847.15. This is a 21% slide in a year. As Bitcoin sentiment continues to decline, analysts are predicting bear market conditions to last longer and with lower price targets.
Long-term bitcoin holders are selling at the fastest pace since August, while some industry observers suggest the market may be approaching a bear-market bottom.
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Bitcoin is now trading near $78,000, according to CoinDesk data. In contrast, all smaller cohorts are net sellers, particularly retail holders with less than 10 BTC. This group has been in persistent selling for over a month, reflecting continued downside and risk aversion among smaller participants.
Jan 31 (Reuters) - Bitcoin, the world's largest cryptocurrency by market value, was down by 6.53% at $78,719.63 at 12:48 p.m. ET (1748 GMT) on Saturday, continuing its decline from the previous session.