NEW DELHI, India — Bitcoin, the world’s most valuable cryptocurrency, plunged to a six-month low on Tuesday, slipping toward the $90,000 mark and erasing all gains made in 2025. The drop represents a nearly 30 percent slide from its October high of $126,000.
The sharp downturn has pulled Bitcoin’s market capitalization below the $2 trillion threshold, reflecting intensifying selling pressure across the crypto ecosystem.
“Bitcoin’s downtrend has continued relentlessly, wiping out the entire rally of 2025,” said Vikram Subburaj, CEO of Giottus.com. He noted that selling pressure is evident in both derivatives markets and exchange-traded products.
Outflows from Bitcoin ETFs have surged to $815 million, contributing to nearly $2 billion in outflows so far this week. Subburaj attributed the sell-off, in part, to strong U.S. manufacturing data dampening hopes for a Federal Reserve rate cut in December, along with ongoing caution even after the end of the U.S. government shutdown.
The slump in Bitcoin has also dragged the broader crypto market lower. Ethereum has fallen below the $3,000 support level, while Solana has lost more than 20 percent this week. XRP has declined by 16 percent. On a weekly basis, the global cryptocurrency market cap has dropped nearly 6 percent.
Avinash Shekhar, CEO and co-founder of Pi42, said the downturn was initially a “routine correction” but deepened due to ETF outflows, aggressive short positions by large investors, and thinning liquidity.
“ETF outflows, whale-driven short positioning, and thinning liquidity have turned a routine correction into a deeper drawdown,” market watchers said.
Other major tokens have also come under pressure. Binance Coin (BNB) has fallen below $900, Solana is trending toward $130, Dogecoin is trading near $0.15, and Cardano is around $0.45. Meanwhile, XRP remains relatively resilient above $2.11, and Chainlink is trading above $13.11.
With risk sentiment weakening and key support levels breaking, analysts suggest the crypto market could be entering a prolonged bearish phase unless broader financial conditions stabilize. (Source: IANS)
