Bitcoin’s having a rough week. The cryptocurrency dropped below $95,000 on Friday, hitting as low as $94,491 at one point. That’s four straight days of losses and nearly 9% down for the week.
The timing tells the story. Big Tech stocks have been sliding lately because investors are getting nervous about massive AI spending. Since many people who invest in tech also hold Bitcoin, the sell-off is hitting both markets. When one goes down, the other tends to follow.
Remember when Bitcoin hit $125,000 back in October? That feels like ancient history now. The price has crashed 25% since then. A surprise White House tariff announcement triggered what one tracker called “the largest liquidation event in crypto history.” Bitcoin never really recovered from that hit.
Things got worse with the government shutdown that lasted from October 1st to November 13th. No inflation data, no jobs reports, nothing. Investors were flying blind trying to guess what the Federal Reserve might do with interest rates. Right now, the odds of a December rate cut have dropped from 90% to just 40%.
Conclusion
Bitcoin’s sharp decline reflects broader market uncertainty driven by tech sector concerns and diminishing expectations for Federal Reserve rate cuts, leaving cryptocurrency investors navigating turbulent waters.
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