Bitcoin (BTC-USD) lost ~8% in afternoon trading on Saturday to reach below $80K, the lowest level since April 2025, as the world’s largest cryptocurrency headed to record its fourth consecutive monthly drop.
The token traded around 78,159.82 at midday trading in New York, while other cryptocurrencies also recorded steep declines. Solana (SOL-USD) and Dogecoin (DOGE-USD) have each dropped ~13% to reach $102.87 and $0.10, respectively, and Ripple (XRP-USD) has fallen ~10% to hover at $1.56.
Amid the selloff, the total crypto market cap has slid ~4% to stand below $2.8T, while Bitcoin (BTC-USD), the first-ever cryptocurrency, has slipped behind Tesla (TSLA) to become the world’s 12th-largest asset by market cap, according to data from CoinGecko.
However, with a Strong Buy recommendation, SA Investing Group Leader James Foord remains bullish. “Ultimately, I think we could very well see a rotation into Bitcoin. It’s happened before, there are fundamental reasons to support this, and the technicals also line up,” Ford wrote in a recent article.