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 was down 0.7% to $83,769.51, its longest monthly losing streak since 2019. Ether fell 4.9% to $2,677.91.
An attendee takes a picture of the Bitcoin sign on the exhibit floor during the Plan B Forum Bitcoin Conference (Bloomberg).The dollar’s biggest rally since May came after President Donald Trump announced his pick for Federal Reserve Chair Kevin Wersch. If confirmed by the Senate, Warsh will replace Jerome Powell, whose term expires in May.
Reaction to the Bitcoin and Ether Crashes Several investors took to social media to express their frustration over the recent crypto crash. “Did Bitcoin Fall Today?” one person asked on X, the platform formerly known as Twitter.
“This Bitcoin price drop is brutal. 📉 Started the week near $90,400 ➡️ Now struggling to stay above $79,000. This is the lowest we’ve seen since the April 2025 tariff crash. $300B+ wiped from total crypto market cap in a day. Tweets over $1.
Will Bitcoin fall to $30,000?Meanwhile, Benjamin Cowen, a popular crypto influencer and founder of analytics platform Into the Cryptoverse, has warned of a bearish market in the cryptocurrency space. Influential crypto bitlord tweeted: “Bitcoin’s next major support is $30k.”
Cowen, in a recent YouTube video, said: “Today, we’re going to talk about Bitcoin and why the price is going down and why I think it will probably continue to go down.” He added that he believes Bitcoin has already turned into a bear market.
“I 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 only 10% above its 2017 high.”
“Despite all the hype and support from Wall Street and the Trump administration, most people who now own bitcoins would be better off buying gold or silver instead,” he added.
An analyst at CCN, Victor Olanrewaju, said: “From a technical perspective, Bitcoin price extended its sell-off, breaking below the $86,400 neckline and confirming a head and shoulders breakout on the daily chart.”
Note: Feedback and commentary provided here are related to Bitcoin price movements and are for informational purposes only. Nothing in this content should be construed as financial or investment advice. Cryptocurrency markets are highly volatile, and any decision you make regarding digital assets is 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 any financial decisions.
