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‘Why is Bitcoin down today?’: Crypto platform founder gives stark warning amid fresh crash
Bitcoin, Ether, and other major cryptocurrencies experienced a major decline on Saturday
Bitcoin, Ether, and other major cryptocurrencies experienced a major decline on Saturday, a trend that has been going on for days now. At the time of writing this story, Bitcoin fell 0.7% to $83,769.51, its longest streak of monthly losses since 2019. Ether fell 4.9% to $2,677.91.
This came as the dollar had its biggest rally since May after President Donald Trump announced his pick for the Federal Reserve Chair, Kevin Warsh. If confirmed by the Senate, Warsh will succeed Jerome Powell, whose term ends in May.
Reactions to the Bitcoin and Ether crash
Several investors took to social media to express their frustration over the latest crypto crash. “What did Bitcoin fall today?” one person asked on X, platform formerly known as Twitter.
“This Bitcoin dip is BRUTAL. 📉 Started the week near $90,400 ➡️ now fighting to stay above $79,000. This is the lowest we’ve seen since the April 2025 tariff crash. $300B+ wiped from the total crypto market cap in days. Over $1.8B in liquidations. 🩸” another one tweeted.
Bitcoin will fall to $30,000?
Meanwhile, a popular crypto influencer and founder of analytics platform Into The Cryptoverse, Benjamin Cowen, warned about a bearish market in the cryptocurrency space. Influencer Crypto Bitlord tweeted: “The next major support for bitcoin is $30k."
Cowen, in a recent YouTube video, said: “Today, we’re going to talk about Bitcoin and discuss why the price is dropping and why I think it will likely continue to drop." He added that he believes Bitcoin has already transitioned into a bear market.
“I do think Bitcoin is, in fact, in a bear market,” he said.
Longtime Bitcoin critic Peter Schiff argued that: “Bitcoin is now worth just 15.5 ounces of gold, down 57% from its 2021 high and just 10% above its 2017 high."
“Despite all the hype and support from Wall Street and the Trump administration, most people who now own Bitcoin would have been better off buying gold or silver instead,” he added.
Victor Olanrewaju, an analyst at CCN, said: “From a technical perspective, Bitcoin’s price extended its sell-off, breaking below the $86,400 neckline and confirming a head-and-shoulders breakdown on the daily chart.”
Note: The reactions and commentary provided here relate to movements in the price of Bitcoin and are intended solely for informational purposes. Nothing in this content should be interpreted as financial or investment advice. Cryptocurrency markets are highly volatile, and any decisions you make regarding digital assets are made at your own risk. HT.com does not endorse or recommend any investment strategy, and you should always conduct your own research or consult a qualified professional before making financial decisions.
