Bitcoin Briefly Falls Below $72,000: How Much Faith Remains in the Crypto World?
Bitcoin fell below the $72,000 mark, hitting its lowest level since November 2024 and deepening concerns over a "crisis of faith" in the cryptocurrency market. The decline, which saw Bitcoin drop over 42% from its October peak, is now driven by broader cross-asset selling pressure rather than just crypto-specific deleveraging.
Global risk aversion intensified as the Nasdaq 100 fell more than 2%, with Bitcoin down in tandem—challenging its narrative as a safe-haven asset. Market sentiment has turned to "extreme fear," and analysts warn that if $72,000 fails to hold, Bitcoin could test $68,000 or even lower levels seen in early 2024.
According to prediction markets, there is an 83% chance Bitcoin falls to $65,000 this year, and a 59% probability it drops below $55,000. ETF flows have been volatile, with inflows quickly reversing to outflows, reflecting unstable institutional interest. The crypto market has lost $1.7 trillion in value since its peak, raising questions about Bitcoin’s role during periods of market stress.
华尔街日报02/05 00:53