In a new bearish trend, the price of bitcoin almost broke through the $60,000 mark overnight. BTC has now halved in price since its all-time high (ATH) last fall.
Bitcoin (BTC) sees its price break new symbolic thresholds
Overnight from Thursday to Friday, Bitcoin (BTC) extended its losses of recent days, reaching almost $60,000. Since then, the asset has climbed back to $64,800, but is still down 8.7% over 24 hours:
At midnight Paris time, BTC closed Thursday down 13.98%, a decline not seen since the collapse of the FTX cryptocurrency platform, when the price of bitcoin fell more than 14% on November 9, 2022.
Bitcoin is now down 48.5% from its all-time high (ATH) of $126,000 on October 6. On the Polymarket prediction market platform, bettors now believe that BTC is more likely to fall below $30,000 than to exceed its record high in 2026. Furthermore, the probability of falling below $55,000 has risen to 73%, and the probability of falling below $50,000 has risen to 59%:
For February, Polymarket users also estimate that there is a 31% chance of the $55,000 threshold being broken. At the same time, CoinMarketCap’s Fear and Greed Index has fallen to 5, which corresponds to a level of “Extreme Fear.”
Of course, the current bearish climate is conducive to all kinds of speculation that BTC will continue to fall. This is entirely possible, but in these moments of panic, it can also be easy to forget Bitcoin’s fundamental values. Despite the crisis, this does not detract from BTC’s value store characteristic, and while past performance is no guarantee of future results, let’s not forget that even after such a correction, the asset still shows a performance of more than 18,000% over 10 years.
