While Bitcoin is fighting to maintain its credibility in distressing investors, the Crypto market as a whole plunges into a disturbing spiral. Total capitalization at a level never reached since November 2021 reveals a multifaceted crisis.
Generalized crash: hacking, same and macroeconomic panic
The fall is dizzying. In 24 hours, Bitcoin lost 8 %, approaching the $ 86,700, its lowest since November 2024. Ether, Solana and XRP follow the same trajectory, with drops of 8 to 10 %.
But behind these figures hide key events. Last Friday, the Lazarus group, the Cybernetic Armed Sath of North Korea, siphoned $ 1.5 billion in ETH and Tokens on Bybit – the largest hacking of a centralized platform. A shock for an already fragile ecosystem.
In the process, the same, these speculative cryptocurrencies based on the same, imploded. Libra, promoted by Argentinian president Javier Milei, lost 95 % of its value in a few hours, erasing $ 4.5 billion.
A blow for retail investors, often attracted to these high -risk assets. “What the market digests is the end of the same era,” analyzes Matt Hougan, Cio de Bitwise. An observation shared by Binance: “the corrections are moments when experienced investors reposition themselves”, tempers Richard TengCEO of Exchange.
But the crisis does not only come from the crypto. Donald Trump's statements on new customs taxes have caused a general risk aversion. The American Bitcoin ETF records $ 516 million in net outings in one day, and liquidations on the term contracts reached $ 227 million on Monday – the third record in six months.
Bitcoin in resistance: reinforced domination in an bloodless market
Despite the turmoil, Bitcoin displays a relative resilience. Its domination increased from 41 % in 2021 to 61 % today, according to Coingecko. A trend that highlights its status of refuge value in the face of the collapse of altcoins. Assifications excluding Top 10 have seen their market share collapse from 25 % to 9 % in three years. Proof that investors flee speculation to fall back on the active ingredient.
However, this force hides a less glorious reality. Bitcoin is caught between the fall of the same and macroeconomic distrust. Hopes are now referring to institutional adoption, stablecoins and one deffi 2.0. But these levers are struggling to compensate for the collapse of speculative niches.
Another glimmer of hope: regulators seem to loosen the vice. The sec has closed its investigations on Uniswap Labs, Coinbase and Robinhood – a positive signal after years of arms. A crucial evolution to restore confidence, but which arrives late in front of the hemorrhage of capital.
The 12 % of Bitcoin investors in loss are only the emerged part of the iceberg. The market crosses a necessary purge, sweeping excess and hollow promises. The samecoins, hacks and macroeconomic shocks exposed the flaws of an still immature ecosystem, while China injects 300 billion yuan into its banking system via an MLF operation.
Maximize your Cointribne experience with our 'Read to Earn' program! For each article you read, earn points and access exclusive rewards. Sign up now and start accumulating advantages.
