Bitcoin’s Roller‑Coaster Ride: From $70k Highs to a Sharp Drop
Bitcoin briefly crossed the $70,000 threshold before retreating, echoing a sharp decline in Nvidia’s shares. The tech giant fell about 5 % after its earnings report, dragging the S&P 500 and other major indices lower. Despite solid numbers, investors worried that Nvidia’s focus on artificial‑intelligence hardware could spark a sector bubble.
Bitcoin Is No Safe Haven
The dip illustrates that Bitcoin behaves less like a safe‑haven asset. When the stock market falls, Bitcoin often drops even more sharply. Over the past month, for example:
- S&P 500 slipped ~1 %
- Bitcoin fell ~25 %
This pattern underscores a growing “risk‑aversion” mood among investors.
Long‑Term Decline Since October
Bitcoin’s recent slump extends a long decline that began in October, when the cryptocurrency hit an all‑time high of ~$126,000—a peak that followed former President Donald Trump’s supportive comments about the crypto industry. Since then, Bitcoin has lost a large portion of its value.
Other Major Coins Follow the Trend
- Ethereum: down ~33 % in the last three months, trading near $2,000.
- Solana: down 40 % in the same period, now worth ~$85 (Binance data).
The broader market feels the impact of a wider sell‑off.
Forecast: Continued Volatility
Experts predict that Bitcoin will keep experiencing sharp price swings. One analyst described the cryptocurrency as being in a “volatility regime,” meaning it will remain highly reactive to:
- Exchange‑traded fund flows
- Economic data releases
- Specific news events
Until market liquidity improves, Bitcoin’s price is likely to continue oscillating in large directions.
