Bitcoin has been under heavy selling pressure that pushed it down from levels above $82,000 last week to around $75,000, recording a new monthly low amid growing economic and geopolitical concerns.
Analysts believe this decline is not the result of a single factor, but rather a set of developments that have increased anxiety in digital markets.
One of the main reasons was moves linked to Trump Media Group, as data showed that wallets linked to the company moved more than $200 million in Bitcoin to trading platforms, raising fears of sell-offs that could put pressure on the market.
Statements from billionaire investor Mark Cuban also heightened fears, after he revealed he had divested most of his Bitcoin holdings due to declining confidence in its role as a hedge against weakness in traditional currencies and geopolitical tensions.
At the same time, data from the Santiment platform showed that other investors moved around $745 million from Bitcoin to trading platforms in just five days, a move often associated with increased selling intent and price pressure.
On the economic front, new appointments within the US Federal Reserve have sparked concerns in the markets, particularly after statements by new Fed Chairman Kevin Worsh regarding his desire to reduce the central bank’s balance sheet, a policy known to have a negative impact on high-risk assets like digital currencies.
As for the geopolitical factor, it returned in force after reports that the United States was preparing for a new round of military strikes against Iran, amid hesitant efforts to reach a permanent agreement, which increased the state of tension and uncertainty in global markets.
Observers believe that the persistence of these factors, particularly in the event of an escalation of military tensions or continued waves of institutional selling, could push Bitcoin into further losses in the coming period.
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Bitcoin price falls to monthly low and Ethereum price falls to $2,000 amid heavy selling.