Crypto market sinks, with Bitcoin at six-month lows and down 22% from its peak

Crypto prices are under pressure, with Bitcoin slipping below $100,000 and touching a six-month low of about $97,500. The market has reversed sharply after a strong first half of 2025, which saw institutional buying, tokenisation efforts and new regulations that helped push several cryptocurrencies to record highs. Bitcoin had reached an all-time high of $126,000 on October 6, but has since dropped nearly 22%.

Market participants say the heaviest activity is now in put options around $95,000 to $90,000, signalling that traders are bracing for further weakness.

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The wider crypto market has also declined 15–25%, affecting Bitcoin, altcoins and meme tokens alike. In the past month, investors have sold roughly 815,000 Bitcoins, leading to a drop in overall market value. The global crypto market capitalisation, which peaked at $4.3 trillion, is now near $3.3 trillion.

Risk aversion is rising as tech stocks face selling pressure and uncertainty persists around upcoming US economic data following the prolonged government shutdown.

Large liquidations - estimated at $450 billion since early October - have added to the decline, driven by institutional redemptions, exchange-traded fund (ETF) outflows and corporate treasury sales. “People are selling crypto for cash,” another analyst said.

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On a weekly basis, major tokens like Bitcoin, Ether, Binance Coin, Cardano and Solana are down 5–13%, while monthly losses range from 12–30%.

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