The Currency analytics
By Pankaj K
Bitcoin hit rock bottom Saturday. The world's largest cryptocurrency tumbled to just above $75,000, marking its lowest point since April and triggering a massive selloff across…
The weekend bloodbath caps off what's been a brutal two-week stretch for crypto investors. Bitcoin started this mess last Sunday when it dropped from $89,000 to $86,000 - the…
Friday gave traders hope. Bitcoin recovered some ground while precious metals markets went crazy.
But Saturday? Total disaster. The cryptocurrency plunged again, falling sharply to that $75,000 level that has everyone freaking out.
Ethereum got hammered even worse, if that's possible. The second-largest crypto by market cap crashed from around $2,800 down to $2,250 - a gut-wrenching fall that had traders…
Other altcoins basically followed Bitcoin off the cliff. Solana dropped 9%, Monero fell 10%, and Litecoin, Sui, Chainlink, and Dogecoin each lost about 5%.
The total crypto market cap? Down $200 billion to $2.7 trillion.
That Fed decision on Wednesday really messed things up. When Jerome Powell and company decided to halt interest rate cuts, crypto investors got spooked.
And then there's the Middle East situation. U.S. Navy movements toward Iran on Thursday added another layer of fear to an already nervous market.
Trading platforms couldn't keep up with the chaos. Binance and Coinbase both reported massive spikes in transaction volumes as traders either tried to buy the dip or cut their…
Coinbase actually had some technical issues Saturday afternoon because so many people were trying to trade at once.
Some big players aren't panicking though. MicroStrategy announced February 1 that they're not changing their Bitcoin strategy despite the crash.
Retail investors? Mixed bag. Reddit and Twitter lit up with debates about whether this is the bottom or if things get worse from here.
Kraken published a report February 1 trying to put things in perspective. They pointed to historical patterns showing recoveries after big crashes, but admitted nobody really…
Market analysts are watching the next few days closely. Without clear signals from major financial institutions, crypto remains vulnerable to more wild swings.