Bitcoin Turns Negative Year Over Year as Slide Deepens
Key Takeaways
Bitcoin’s latest pullback has pushed the world’s largest cryptocurrency into negative territory compared with this time last year, adding pressure across the digital asset market and broader risk assets.
BTC fell about 4.4% on the day to roughly $86,530, reversing early gains and slipping below last year’s close. Compared with November 20, 2024, when Bitcoin settled near $94,000, the token is down more than 8% year over year. Intraday, prices touched the lowest levels since late April and now sit about 32% below the record set six weeks ago, underscoring the speed and depth of the current crypto selloff.
The technical picture has deteriorated as steady declines since the start of the month leave limited nearby support. Traders are eyeing the April trough around $75,000 as the next significant level. Bitcoin often acts as a bellwether for risk appetite, and the ongoing weakness raises the risk of spillover into equities, particularly high-beta segments like the Nasdaq and chipmakers, as market sentiment continues to cool.
Key Points – Bitcoin fell about 4.4% on the day to around $86,530 – Down more than 8% year over year versus the ~$94,000 close on Nov. 20, 2024 – Intraday prices hit the lowest since late April – Approximately 32% below the record high set six weeks ago – Persistent monthly downtrend leaves limited support until near ,000 – Ongoing BTC weakness could weigh on broader risk assets, including tech stocks and chipmakers
