Bitcoin crashes below $80,000 as crypto market wipeout tops $1 trillion

The leading cryptocurrency has dropped approximately 25% from its all-time high of nearly $110,000, as market insiders caution about potential price “suppression.”

Bitcoin has plunged below the $80,000 mark, intensifying a broader cryptocurrency sell-off that has wiped $1 trillion from the market. The rapid downturn is sparking concerns of a deeper correction, with warnings of further losses ahead.

The leading cryptocurrency has dropped approximately 25% from its all-time high of nearly $110,000, as market insiders caution about potential price “suppression.”

Amid growing uncertainty, analysts are assessing how low Bitcoin could fall and whether this downturn could spiral into a full-fledged market crash.

“Technical analysis indicates that Bitcoin’s next key support level is around $70,000,” said Ruslan Lienkha, chief of markets at crypto platform YouHodler. “However, this level may only be tested if negative sentiment continues to weigh on equity markets. While US stock indices have been declining, it’s still premature to declare an end to the broader uptrend — it could simply be a market correction.” he added.

Markus Thielen, founder of 10x Research, echoed similar sentiments, noting that bitcoin is following a classic ascending broadening wedge pattern, which suggests a price target in the low $70,000s.

The ongoing crypto downturn is also being linked to escalating global trade tensions, particularly those stemming from U.S. President Donald Trump’s latest trade policies. Analysts suggest that heightened economic uncertainty and stock market volatility are contributing to the latest crypto market decline.

“The crypto market is on edge, with the Crypto Fear & Greed Index hitting 21—its lowest level since September,” said Agne Linge, head of growth at decentralized on-chain bank WeFi.

“With tariffs on Canada and Mexico set to take effect on March 5, mainstream markets are bracing for potential economic repercussions. Investors may continue shifting capital away from risky assets, seeking stability in a turbulent landscape. As a naturally volatile asset, bitcoin does not currently offer that security in the short term.”