Bitcoin Extends 4-Week Losing Streak
Bitcoin dropped to $68,000 during its fourth consecutive week of losses, accompanied by ETF outflows, according to GroveX's market roundup. Ethereum rebounded to $2,000 while XRP experienced 10% climbs followed by 11% drops. WisdomTree warned of the end of Bitcoin's boom-bust cycle, while Bloomberg cautioned of a potential $10,000 crash.
- The current price is a significant drop from Bitcoin's all-time high of over $126,000, which was reached in October 2025. - The recent ETF outflows have been substantial, with crypto funds seeing a total of $3.74 billion in outflows over the past four weeks. - Bloomberg Intelligence strategist Mike McGlone has warned that Bitcoin could potentially crash to $10,000, especially in the event of a U.S. recession. - In contrast to short-term bearish sentiment, asset manager WisdomTree suggests that the era of "boom-and-bust" cycles for Bitcoin may be ending due to increased institutional investment fostering more stable growth patterns. - The market's downturn is occurring amid broader economic uncertainty, particularly concerning interest rates, which has led to increased aversion towards speculative assets. - MicroStrategy, the largest corporate holder of Bitcoin, has stated it can withstand a price drop to as low as $8,000 without being forced to liquidate its holdings.
