Bitcoin (BTC) experienced on of the biggest sell-offs over the past month, sliding more than 40% to reach a year-to-date low of $59,930 on Friday. It is now down over 50% from its October 2025 all-time high near $126,200.
Key takeaways:
Analysts are pointing to Hong Kong hedge funds and ETF-linked U.S. bank products as possible drivers of BTC’s crash.
Bitcoin could slip back below $60,000, putting the price closer to miners’ break-even levels.
