Bitcoin Crashes 13% Under $64K: Sell-Off Accelerates as Crypto Doubts Mount

Bitcoin has taken a sharp hit. The price dropped <13%> and broke below <$64K>, shaking investor trust. Once called , Bitcoin now faces big questions about its real value.

What Happened to Bitcoin’s Price?

On Thursday, Bitcoin fell to $62,303. Its lowest point since late 2024. It closed around $63,010. This marks a 20% drop just this week. From a high of over $126,000 in early October, it’s down more than 45% now.

The sell-off picked up speed. Bitcoin first broke under $70,000. Then selling got worse. Traders watch $70K as a key level. If it fails there, prices could head to $60,000-$65,000.

“If we fail to hold $70,000, a move toward the $60,000 to $65,000 range becomes quite likely,” said a top researcher.

Why Is the Crypto Sell-Off Happening?

Investors are rethinking Bitcoin. They once saw it as a shield against inflation and bad economies. A better choice than gold or cash. But that story isn’t holding up.

• Bitcoin moves like risky stocks, not safe gold.
• Little use for everyday buys.
• Down 30% in a year, while gold jumped 68%.

Recent troubles in places like Venezuela, the Middle East, and Europe didn’t help Bitcoin shine. It fell with stocks instead.

Traditional investors are pulling back. “Steady selling shows they’re losing interest. Pessimism about crypto is growing,” one bank analyst noted.

Other Cryptos Are Hurting Too

It’s not just Bitcoin. Ether dropped 23% this week. Its worst since late 2022. Solana hit $88.42, a two-year low, down 24%. XRP and others fell even more.

The whole crypto market feels the pain. Over $2 billion in trades got forced out this week. These are . When prices hit a trigger, positions sell automatically. This adds more selling pressure.

Institutional Investors Flip from Buyers to Sellers

Big players once pushed Bitcoin up. Now they’re selling. U.S. Bitcoin ETFs bought 46,000 coins a year ago. Today, they’re net sellers.

“Institutional demand has reversed materially,” data trackers report. Bitcoin broke below its 365-day moving average. First time since early 2022. It’s down 23% since then. Worse than past bear markets.

A moving average smooths prices over time. It shows trends. Breaking below it signals trouble.

“Bitcoin isn’t trading on hype anymore. It’s on liquidity and capital flows,” said a crypto CEO.

Links to Broader Markets

Tech stocks are selling off too. A big tech ETF lost 2.8% Wednesday, after 2.2% the day before. Gold and silver face pressure. Precious metals stay volatile.

Bitcoin’s three-month slide ties to risk-off mood. No straight bull run like some hoped.

Key Levels to Watch in This Sell-Off

• $70,000: Psychological support. Break means more downside.
• $60,000-$65,000: Next target if selling continues.
• 365-day MA: Already broken. Bearish sign.

Analysts see risk down to $60K. But crypto is volatile. Bounces can happen fast.

What Does This Mean for Crypto’s Future?

The grow. Bitcoin was meant to be different. A store of value in tough times. Instead, it acts like a high-risk bet.

Adoption as money stays low. Payments with Bitcoin are rare. While gold thrives as a safe haven.

Institutions led the bull charge. Their exit now hurts. ETFs shifting to sellers shows fading demand.

Yet, history shows crypto rebounds. Past crashes led to new highs. This could be a dip for long-term holders. Or the start of a deeper bear market.

Watch liquidity. Capital flows drive prices now, not just stories.

Lessons for Investors

1. Diversify. Don’t bet all on crypto.
2. Understand risks. Bitcoin ties to stocks more than you think.
3. Track big money. Institutions move markets.
4. Stay patient. Volatility is crypto’s nature.

Final Thoughts

The news hits hard. Sell-off speeds up as old promises fade. Crypto faces real tests now.

Will it recover? Time will tell. For now, caution rules. Keep eyes on key levels and market flows.

Bitcoin’s story evolves. From hype to reality. Investors must adapt.

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