Bitcoin (BTC) erased all its early-2025 gains, dropping nearly 10% in two days due to strong U.S. economic data, rising bond yields, and concerns about inflation and a hawkish Federal Reserve. Crypto-related stocks also suffered, with bitcoin miners and Semler Scientific experiencing significant declines.
Mining stocks including WULF, BTDR, IREN and HUT dropped over 5%, while BTC holder medical devices firm Semler Scientific plunged 10%.Bitcoin dropped nearly 10% in two days, erasing nearly all its early 2025 gains, while Cardano's ADA, Render's RNDR and Aptos' APT led losses in the CoinDesk 20 Index.
Analysts suggest Bitcoin may consolidate before resuming its upward trajectory, with economic data releases and Donald Trump's upcoming inauguration likely influencing its trajectory. The largest crypto slipped to a session low of $92,600 during U.S. trading hours, shedding nearly 10% in two days from its Monday peak above $102,000. It has recovered some of the losses and recently traded at $94,300, still down 2.5% over the past 24 hours.The violent two-day plunge liquidated nearly $1 billion worth of leveraged derivatives positions across crypto assets, predominantly longs betting on higher prices,shows. The slide also pushed BTC temporarily below where it started the year.
"Doesn't have to be uber bearish, but we might need to fiddle around in a range and get more comfortable with $100k prints before we can really leave this area behind," he said in an
BITCOIN CRYPTOCURRENCY STOCK MARKET ECONOMICS INFLATION
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