Bitcoin has fallen to ~$78K, down ~7% in 24 hours, over 12% in the past week, and down ~37% since its ATH in Oct. 2025; Ethereum dropped ~18% in the past week
Bitcoin fell sharply in early Saturday afternoon trading in New York, tumbling below $80,000 mark to hit levels last seen in April 2025.
Context & Ripple Effects
The move extends a reversal already visible when Bitcoin fell below $100,000 in November, with ether again declining more sharply than Bitcoin. The next-day coverage shows the selloff continuing to roughly $77,000, rather than immediately reversing.
This is another sharp joint drawdown in Bitcoin and Ethereum, echoing earlier periods when both assets fell alongside broader risk-market stress, including the August 2024 crypto-market plunge.
First-order effects
- Bitcoin holders and short-term traders face a rapid mark-to-market loss as the asset falls below $80,000 and further from its October 2025 peak.
- Ethereum underperforms over the week, widening the immediate divergence in losses between the two largest cryptocurrencies.
Second-order effects
- The continued decline into the following day’s move toward $77,000 keeps downside momentum in focus for crypto investors and raises the bar for a near-term recovery in risk appetite.
- A steeper Ether decline can redirect attention toward whether Ethereum’s investor and developer interest is weakening relative to peers, a concern already reflected in the related coverage.
Third-order effects
- Repeated, correlated Bitcoin-Ether selloffs reinforce crypto’s sensitivity to abrupt shifts in market risk appetite, even as individual networks pursue distinct utility and revenue models.
- If Ether continues to lag during major drawdowns, market participants may place greater weight on network usage and sustainable application revenue—not just broad crypto-cycle exposure—when valuing the asset.
The trend: The selloff is part of a broader pattern in which crypto’s largest assets remain tightly linked in downturns, while Ethereum faces increasing pressure to demonstrate fundamentals distinct from Bitcoin’s market cycle.