Bitcoin briefly fell below $73,000 on Tuesday, hitting its lowest level since November 2024 as renewed selling swept through the market.
The world’s largest cryptocurrency dropped as low as $72,884, down more than 6% on the day, before recovering to trade around $75,659 in late New York trading.
Bitcoin is now down about 16% year to date, as investors continue rotating out of risk assets amid geopolitical tensions and delayed US economic data caused by a partial government shutdown.
“BTC’s pullback doesn’t appear driven by any single factor,”
Said Rob Hadick, general partner at Dragonfly Capital, noting that volatility remains a defining feature of crypto markets.
Hadick added that uncertainty around crypto legislation and liquidation overhangs have weighed on sentiment, even as broader fundamentals remain intact.
Shares of Strategy, a bitcoin treasury firm, fell more than 4% in the session, reflecting pressure on crypto-exposed equities alongside spot prices.
Despite the decline, Hadick said adoption of stablecoins and tokenised assets continues to strengthen the medium- and long-term outlook for the crypto sector.
At the time of reporting, Bitcoin price was $76,293.58.