Bitcoin (BTC) Falls Below $75,000 as Crypto Selloff Accelera

Bitcoin (BTC) Falls Below $75,000 as Crypto Selloff Accelerates The largest  by market capitalization dropped as much as 6% to $72,884.38 on the day. That was its lowest level since Nov. 6, 2024 when BTC traded at $68,898. Bitcoin has now fallen more than 15% year-to-date and is down 40% from an all-time high of $126,000 reached last October.
comes as investors rotate out of risk assets such as cryptocurrencies and seek safe havens in blue-chip stocks, as well as precious metals such as gold. Analysts say mounting geopolitical concerns, a partial U.S. government shutdown, and the delay of U.S. economic data has made investors jittery.
Leveraged Bitcoin Positions
At the same time, the selloff in BTC is being exacerbated by forced selling among investors who hold leveraged positions in the cryptocurrency. Those investors used debt to buy Bitcoin and are being forced to sell their holdings as the price sinks.
 is also gathering steam as investors pull money out of exchange-traded funds () that track the spot price of Bitcoin. Analysts appear divided over when Bitcoin will find a bottom. Some market observers are now eyeing $60,000 as a potential floor for the cryptocurrency.
Is Bitcoin a Buy?
Most analysts don’t offer ratings or price targets on Bitcoin. So instead, we’ll look at the  of BTC. As one can see in the chart below, the price of Bitcoin has declined 25.42% in the last 12 weeks.