Bitcoin Faces $25 Billion Wipeout as Market Sentiment Turns Bearish
Bitcoin’s recent price crash has erased $25 billion in gains within just 24 hours, driven by a broader decline in US stock markets and heightened investor anxiety. The STH NUPL indicator has hit an 8-month high, suggesting a potential shift in market behavior, while rising losses point to a possible capitulation phase—often a sign of a market bottom. However, ongoing trade tensions and global economic uncertainty continue to fuel bearish sentiment, leaving Bitcoin’s near-term trajectory uncertain.
Bitcoin Price Crash Wipes Out $25 Billion Gains
The decline in US stock markets has affected Bitcoin, causing a significant price crash that wiped out $25 billion in gains in 24 hours. The STH NUPL has reached an 8-month high, signaling a potential shift in investor behavior. Rising losses indicate that Bitcoin may have gone through a period of capitulation, typically marking the bottom of a market downturn. However, broader market bearish sentiment, driven by trade tensions and global economic uncertainty, still poses a risk.
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The cryptocurrency market continues its descent. Bitcoin (BTC) has fallen to the $76,000 level for the first time since November 2024. The global crypto market cap has fallen 10.5% in the last 24 hours to $2.52 trillion. The crypto market had risen to more than $3 trillion in late March. Since last month, more than $0.5 trillion has been wiped out. The market crash is likely due to Trump’s tariff spree, leading to massive sell-offs in both global stock markets and cryptocurrencies.
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The asset is down 7% on the day, while trading volume has surged over 200%, signaling intense selling pressure. With a strengthening bearish bias, Bitcoin might be set on recording new lows in the near term. Bitcoin futures show traders pulling out, with falling futures open interest (OI) at $51.88 billion, plummeting 1% over the past 24 hours, indicating traders are closing out positions.
Over 91,000 BTC Pulled from Exchanges Amid Market Uncertainty
About 91,200 to 91,900 bitcoins have been removed from exchanges in the past month, reflecting an increase in investor risk aversion or longer-term investment plans. Bitcoin’s price remains flat as traders await direction from the opening of S&P 500 futures. Market participants are closely monitoring both crypto and traditional finance for the next big move.
Markets Crash, Bitcoin Drops to 75k
Global markets took a hit on Monday after Donald Trump confirmed he wouldn’t soften his stance on tariffs, intensifying fears of a recession. US futures pointed to a 3–4% drop, and Hong Kong’s Hang Seng index plunged over 10%. European and Asian markets also slid, pushing down bond yields globally. Goldman Sachs increased the chance of a US recession to 45%, citing the financial strain from Trump’s steep new tariffs. The president defended his decision, claiming tariffs are bringing in billions and are needed to fix trade deficits with countries like China and the EU. China responded with 34% retaliatory tariffs. Bitcoin, a major cryptocurrency, was also affected, dropping to 75k. Trump supporters like investors Bill Ackman and Stanley Druckenmiller criticized the strategy, warning it could damage the US economy.
