Bitcoin Price: Here’s Why It Slipped Below Key Level
The bitcoin price is volatile, meandering between positive and negative ground to hover at $78,441 per BTC at last check. Today’s performance fails to catapult bitcoin back to the psychologically sensitive $80,000 level where the BTC price was hovering about 24 hours ago. Over the past five days, the bitcoin price has shaved off approximately […] The post Bitcoin Price: Here’s Why It Slipped Below Key Level appeared first on 24/7 Wall St..
The bitcoin price is volatile, meandering between positive and negative ground to hover at $78,441 per BTC at last check. Today’s performance fails to catapult bitcoin back to the psychologically sensitive $80,000 level where the BTC price was hovering about 24 hours ago. Over the past five days, the bitcoin price has shaved off approximately 5% of its value as the global markets are rocked by the trade war, a major headwind that the cryptocurrency market has not been able to escape.
FOMO Stirring
While bitcoin is among the most volatile assets out there, it is also increasingly on the radar of big investors. Most recently, BlackRock CEO Larry Fink has reportedly called the latest pullback in the BTC price a buying opportunity, as the flagship crypto could be the world’s next global reserve currency.
Additionally, it may soon be easier for investors to diversify their 401(k) plans with bitcoin. U.S. Senator Tommy Tuberville from the state of Alabama has officially introduced a financial freedom act of 2025 to give U.S. savers “the freedom to invest their retirement” money in the leading crypto.
While it’s hard to deny the volatility in the bitcoin price, it’s also apparent that the S&P 500 has been no less volatile of late, falling 17% from its February peak. As a result, investors have few places to hide from these economic tremors ignited by the global trade war.
Key Points
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The bitcoin price is showing its volatile colors today.
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BlackRock’s Larry Fink calls the recent pullback in the BTC price a buying opportunity.
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Now What?
Bitcoin as an asset is no stranger to economic slowdowns, having been launched around the time of the Great Financial Crisis. Considering it has been around for nearly two decades, bitcoin has endured changing market cycles similar to the one that is unfolding now. While the economy is mired in uncertainty, bitcoin should be shining given its independence from the central banking system. Instead, bitcoin has been flaunting its volatile side, though it’s not enough to shake off bitcoin bulls like BlackRock’s Fink.
Early bitcoin investor Anthony Pompliano in a segment on Fox Business described how the U.S. dollar has shaved off 50% of its purchasing power over the past three decades. He says the most volatile asset people hold is the U.S. dollar, while the bitcoin price has proven to appreciate over the long term. Whether or not investors have the nerves to prove out that theory in their own personal savings accounts, however, remains to be seen.
The post Bitcoin Price: Here’s Why It Slipped Below Key Level appeared first on 24/7 Wall St..
