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Bitcoin is on course to close out one of its worst weeks in months, with the cryptocurrency sliding to $62,500 on Friday and now sitting fully 50% below the all-time high of $126,000 it reached in September 2025.
The latest leg down came after crypto treasury company Strategy sold a portion of its bitcoin holdings, its first such sale since 2022, rattling market sentiment and pushing prices to their lowest levels since early April. The sell-off compounded an already fragile mood across digital asset markets, where enthusiasm has visibly cooled in recent weeks.
Broader conditions in technology stocks have done little to help. Semiconductor giant Broadcom reported a revenue miss on Wednesday, sending chip stocks lower and dragging the wider tech sector into a period of turbulence that has spilled over into crypto. Analysts have noted a growing correlation between bitcoin and major equity indices, though that relationship has begun to fray as global tech stocks continued climbing to new all-time highs while bitcoin notably failed to follow.
Bitcoin is currently hovering just above the psychologically significant $60,000 threshold, a level it has not traded below since September 2024. The absence of any meaningful dip-buying, which has historically characterised bitcoin downturns, has added to concerns that sentiment among short-term speculators remains deeply subdued.
Charles-Henry Monchau, chief investment officer at Syz Group, attributed the decline to a combination of Strategy's forced selling and capital rotating aggressively into artificial intelligence stocks, memory chips, and anticipated major IPOs expected to draw retail money away from crypto markets.
Not everyone, however, reads the current environment as a cause for alarm. Matt Cole, chief executive of Strive, told CNBC's Squawk Box Europe on Friday that bitcoin's underlying fundamentals have never been stronger, and pointed out that this marks the fifth time the asset has touched its 200-week moving average, a level that, on each of the previous four occasions, proved to be an optimal entry point for long-term investors.
On the regulatory front, the Senate's approval of the Clarity Act, representing the most comprehensive crypto legislation to date, offered a rare piece of positive news for the industry amid an otherwise difficult stretch.
