Bitcoin Sell-Off Deepens, Fueling Investor Concerns Over an Uncertain Rebound
On Wednesday, the flagship cryptocurrency is down 3.5% at $72,800, a level close to where it traded in 2024. Ethereum (ETH) falls 4.7%.
Quick overview
- Bitcoin has experienced a significant sell-off, dropping nearly 18.7% over the past week and trading around $72,000.
- The current market structure is different from early 2025, with 44.86% of Bitcoin's circulating supply above $75,000, indicating stronger resistance to recovery.
- Ethereum has also seen a decline, falling 4.7% to $2,120, with a seven-day loss of 29%.
- Solana leads the altcoin declines with a 9.1% drop, while WhiteBIT Coin is the only major asset showing gains at 5.5%.
The recent sell-off pushed Bitcoin sharply lower, bringing it close to the lows seen in early 2025. However, according to experts, the situation this time is different.
Bitcoin (BTC) has extended its decline and is trading around $72,000 following last weekend’s rout, posting losses of nearly 18.7% over the past seven days. The downturn has spilled over into the broader crypto market, with most altcoins also trading in negative territory.
On Wednesday, the flagship cryptocurrency is down 3.5% at $72,800, a level close to where it traded in 2024. Ethereum (ETH), meanwhile, is falling 4.7% to $2,120, bringing its seven-day loss to 29%.
Among major alternatives, Solana is leading the declines with a daily drop of 9.1%, followed by BNB (-4.7%). By contrast, WhiteBIT Coin stands out as the only major crypto asset posting gains, up 5.5%.
Why does a Bitcoin recovery look difficult?
The latest drop has driven Bitcoin back toward levels close to its early-2025 lows. While price action may appear similar at first glance, on-chain data suggest that the underlying market structure is markedly different this time.
During the April 2025 sell-off, when Bitcoin fell to around $75,000, only 25.76% of the circulating supply was above that level. By comparison, current data show that roughly 44.86% of supply now sits above $75,000. This creates a much stronger resistance to any short-term recovery, as a larger number of holders are either at a loss or near breakeven within the current trading range.
For Ethereum, the comparable support level lies near $1,900, reflecting similar dynamics across altcoin markets, which tend to mirror Bitcoin’s behavior during corrective phases.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
- Read our latest reviews on: Avatrade, Exness, HFM and XM
Save