Bitcoin Price Crash: A sharp decline was seen in Bitcoin, the world’s largest cryptocurrency. It fell to about $62,000. It reached an all-time high of nearly $126,000 in October last year. Before this it fell to about $60,000, which was a decline of more than 50 percent. Although there has been recovery from that level, it has not been completely recovered.
Whales, or large investors, are continuously selling in the Bitcoin market. Increasing uncertainty regarding US trade policy has increased the distance from riskier assets. The second largest cryptocurrency, Ether, also came under pressure. It has fallen 61% in the last six months. Its founder, Vitalik Buterin, was seen selling a portion of his holdings, further increasing market concerns.
Pressure increased due to sale of whales
According to on-chain data from CryptoQuant, large amounts of Bitcoin have been transferred from large private wallets to exchanges. Generally when large holders transfer their coins to the exchange, it is considered a potential selling signal. This increases the supply available in the market and puts pressure on prices.
Whales are investors or institutions that hold large amounts of Bitcoin, such as early investors, large funds or institutional players. Their actions can have a big impact on short-term prices. Right now, there is no major buying seen on the exchanges, and market confidence remains weak after the recent decline.
Concerns increased over US trade policy
New uncertainty regarding US trade policy has also shaken the market. Last week, the US Supreme Court rejected the tariffs imposed by President Donald Trump, saying that the President had exceeded his authority. After this, Trump imposed a new global tariff of 10 percent for 150 days and later increased it to 15 percent, which is the maximum limit under the law.
This decision also affected the Asian market, where equities and other risky assets remained under pressure. Investors fear that higher tariffs could slow global growth and reduce liquidity. In such an environment, pressure on cryptocurrencies is common.
Strategy buys bitcoin again
Strategy is the largest bitcoin holding company among listed companies. It bought 592 bitcoins last week, spending $39.8 million, with the average price of each coin being $67,286. This purchase was made with the funds received from the sale of common stock. With this purchase, the strategy now holds a total of 717,722 Bitcoins, which it purchased for a total of $54.56 billion. The average price of each coin is $76,020.
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