Cryptocurrency Market Crash: Bitcoin Leads Losses of Nearly Half a Trillion Dollars in Days

The cryptocurrency market has experienced a sharp decline in less than a week, losing about $500 billion in market value amid a widespread sell-off led by Bitcoin, according to recent data from platforms tracking digital markets.

Decline in Cryptocurrency Market Value

Data from the "CoinGecko" platform showed that the total market value of cryptocurrencies dropped by approximately $467.6 billion since January 29, marking one of the largest downturns the market has seen recently.

Bitcoin Drops to Lowest Levels Since 2024

The price of Bitcoin saw a significant drop, falling to $72,877, its lowest price since the re-election of U.S. President Donald Trump in November 2024. However, it later recovered part of its losses and was trading around $76,100 on Wednesday morning London time.

Sell Pressure Despite Increasing Institutional Adoption

Despite ongoing political support and increasing adoption of digital currencies by major institutions, Bitcoin has lost about 40% of its value since reaching an all-time high last October, due to widespread liquidations and increasing sell pressure in the market.

Fear Among Investors After Breaking Key Support Levels

Analyst Rachel Lucas from "BTC Markets" stated that investor sentiment remains cautious and risk-averse, noting that breaking the $73,000 level heightened anxiety within the market and accelerated selling activities.

Geopolitical Tensions Increase Pressure on Digital Assets

The wave of decline coincided with disruptions in global markets amid escalating tensions between the United States and Iran, prompting investors to turn towards traditional safe assets, while cryptocurrencies failed to maintain their investment momentum during this phase.