Bitcoin crashes over 7% to nearly $66,000
What's the story
The world's leading cryptocurrency, Bitcoin, has witnessed a significant drop in its value. Earlier today, the digital currency fell to $66,127, marking a decline of over 7% in just one night. At the time of writing, Bitcoin was trading at $66,683, down by 6.4% from yesterday's value. The recent downturn has pushed its price down by nearly 12% in the past week and 37% over the last year.
Price comparison
Bitcoin's price decline
Bitcoin's current value is a far cry from its all-time high of $126,198 on October 7, 2025. The recent decline has pushed the cryptocurrency down by more than 47% from that peak. The ongoing conflict in the Middle East is one of the factors affecting Bitcoin's performance. The situation is pushing global energy prices and inflation, which could lead to higher interest rates in major economies.
Investor response
Strategy's BTC sale worries investors
Another factor behind the recent Bitcoin sell-off is the news of Strategy, a major player in the cryptocurrency space, selling 32 BTC for $2.5 million. The move has caused some concern among crypto investors as it contradicts Strategy founder Michael Saylor's previous advice to "never sell your bitcoin." Despite being a small portion of its total holdings valued at around $66.7 billion, Saylor's change of heart has not been well-received by many in the community.
Market dynamics
AI's rise could be Bitcoin's downfall
Ryan McMillin, co-founder of Merkle Tree Capital, also pointed out the rapid rise and investment appeal of artificial intelligence as a potential hurdle for Bitcoin. He said AI could be sucking liquidity from the market, especially for risk-seeking investors looking for high-growth assets. This shift in investor sentiment could further contribute to Bitcoin's recent price decline.