Bitcoin Price Crashes 9% to $69,000 As Markets Spiral Into Full Risk-Off Mode
Bitcoin dropped 9% to $69,000 amid a global risk-off sentiment, erasing 2021 all-time high gains.Summary
The price of Bitcoin fell by as much as 9% to $69,000 during Asian trading on Thursday, driven by a broader selloff in global markets, particularly Asian equities concerned about stretched AI stock valuations. This decline wiped out all gains since Bitcoin's previous 2021 all-time high, putting it down about 45% from its October peak. The market downturn was characterized by deleveraging across speculative assets, with silver plunging 17% and gold falling over 3%. Furthermore, U.S. spot Bitcoin ETFs recorded significant net outflows, reversing the strong institutional demand seen earlier in 2025. In corporate news, Strategy ($MSTR), the largest corporate holder, faces paper losses, though Chairman Michael Saylor affirmed the company's commitment to buying more Bitcoin despite the dip. The mining sector is also stressed, with Bitcoin's price below production costs, leading to a drop in network hashrate and an expected difficulty adjustment. Finally, Treasury Secretary Scott Bessent confirmed the U.S. government has no authority to "bail out" Bitcoin.
(Source：Bitcoin Magazine)