Bitcoin price today dampened crypto market optimism, while the US stock market only slightly weakened, Bitcoin fell sharply below a key psychological level, raising a major question, is this the start of a new downtrend, or simply an adjustment phase in an already changing cycle?
In recent trading, Bitcoin price today fell around 3% to the $86,000 area, while other major crypto assets like Ether, XRP, and Solana fell more than 5%. The pressure has also spread to crypto stocks, with major companies like Coinbase, Strategy, and Galaxy Digital recording significant declines.
Interestingly, this pressure occurred while traditional markets were relatively stable. The Nasdaq only fell around 0.6%, while the S&P 500 weakened slightly. This disparity indicates that the crypto market is facing its own challenges not simply following global sentiment.
One source of pressure comes from the AI and Bitcoin mining sectors. Many miners who previously benefited from the shift to AI infrastructure are now being hit hard as tech stocks have slumped, exacerbating negative sentiment toward crypto.
Not Panic Selling, But “Risk Fatigue”
Despite the sharp decline, major market participants see no signs of structural panic. Crypto trading firm Wintermute believes the market is currently “digesting macro uncertainty,” rather than entering an aggressive risk-off phase. Jasper De Maere, Wintermute’s desk strategist, asserts
“Without evidence of forced selling or a sustained deterioration in liquidity, downside moves are more likely to remain orderly rather than disorderly.”
In other words, Bitcoin price today is weakening due to caution, not a liquidity crisis an important distinction for long-term investors.
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The Fed, Bank of Japan, and Global Liquidity Strains
The pressure on Bitcoin price today cannot be separated from the dynamics of global monetary policy. Although the Federal Reserve cut interest rates by 25 basis points, their latest projections are even more hawkish, suggesting only one cut throughout 2026.
The problem is, the market is still positioning itself as if the cuts will be much more aggressive. This lack of synchronicity is creating volatility.
At the same time, the Bank of Japan is preparing to raise interest rates and reduce hundreds of billions of dollars in ETF holdings a move that has raised concerns about global liquidity and the potential for unwinding of the yen carry trade. This combination of factors has made investors reluctant to take significant risks in assets like Bitcoin in the short term.
Is Bitcoin No Longer Moving in “4-Year Cycles”?
One of the most important insights comes from Bitfinex. According to them, the Bitcoin market structure has fundamentally changed.
“With annual BTC issuance now below 1%, the halving’s influence has diminished, Structural inflows from ETFs, corporates, and sovereign-linked entities have absorbed multiples of the annual mined supply.” said Bitfinex analysts.
This means that Bitcoin price today is no longer driven by classic cyclical patterns, but rather by more stable, long-term capital flows similar to gold.
This explains why corrections since 2024 have tended to be shallower, but also why explosive rallies have become increasingly rare.
Gold and Bitcoin Correlation It’s A Delayed Signal?
Bitfinex also highlighted an interesting pattern of historically, Bitcoin often follows gold rallies with a lag of 100–150 trading days. With gold posting strong performance throughout 2025, Bitcoin is considered to be in a consolidation phase before a potential continuation of the trend.
However, expectations must be realistic.
Paul Howard, Senior Director at Wincent, cautioned investors against expecting an instant surge. “The regulatory changes of 2025 coupled with loosening monetary policy set a good foundation,” Howard said. “But I don’t expect BTC to be setting new all-time highs this side of Easter.”
Bitcoin Price Today Between Consolidation and Patience
Rather than interpreting this decline as a sign of doom, many analysts see it as a transitional phase. The market is shifting from an era of rapid speculation to the dominance of more patient and selective institutional capital.
In this landscape, the Bitcoin price today can appear stagnant or volatile without a clear direction while the long-term fundamentals are actually strengthening.
The Bitcoin price today is indeed under pressure from macro uncertainty and shifting market structures. However, there are no signs of systemic panic, no major forced selling, and no liquidity collapse.
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