Why Crypto is Crashing? Bitcoin News, Pi Network Price, Nvidia Stock Plunge

A whale, likely armed with insider info, made another $2.15M profit in just 50 minutes. The trader sold 947 ETH for $1.95M USDC and then deposited it into Hyperliquid to open a long position on ETH with 50x leverage. The position ballooned to 25,095 ETH (worth $53.7M) before the whale closed out as ETH surged, locking in the impressive profit. This is the same trader who previously netted $6.8M on BTC and ETH before Trump’s executive order.

Investor sentiment has reached levels not seen since 2022, with the Crypto Fear & Greed Index dropping to a near three-year low of 20. This steep decline reflects heightened fear among investors, driven by regulatory uncertainty and recent price volatility. Historically, such low sentiment levels have preceded market bottoms, suggesting that this downturn may present a potential buying opportunity for contrarian investors looking to capitalize on future recovery. However, on-chain data from CryptoQuant shows that the average monthly Fear & Greed Index has declined to a more acceptable level, suggesting that selling pressure might be easing.

Bloomberg’s senior commodity strategist Mike McGlone warned that Bitcoin might plunge to $70,000 amid renewed market fear. Despite excitement over the U.S. strategic Bitcoin reserve, Bitcoin-to-gold ratio has dropped to 28X and may fall to 21X, signaling underperformance. McGlone noted that if the U.S. stock market reverses some of last year’s $12 trillion advance, Bitcoin could continue to struggle. Anti-crypto commentator Peter Schiff believes the current correction is overdue and may persist through the decade.

The total crypto market cap fell by $148 billion in the past 24 hours as investor sentiment turned sharply negative. Concerns over US President Donald Trump’s ambiguous stance on a potential recession fueled uncertainty in financial markets. This lack of clear direction triggered widespread sell-offs, forcing major digital assets into decline, with Bitcoin dropping to $80,000 and Ether slipping below $2,000. Combined with broader macroeconomic worries, these factors have led to today’s steep downturn in the crypto market indeed.

The crypto market kicked off the week with a sharp downturn, wiping out $620.5 million in liquidations over the past 24 hours. Bitcoin dropped as low as $80,000 over the weekend, triggering widespread margin calls and forcing many leveraged traders out of positions. Long positions suffered the most, with Bitcoin alone losing nearly $240 million. Analysts warn that if Bitcoin fails to hold around $78,000, it could fall further to about $75,000, adding to the market’s volatility. Altcoins, including Ethereum, also saw significant declines amid rising risk-off sentiment.

Ethereum is under strong selling pressure, dropping below $2,000 earlier today and risking a fall to around $1,250 if support fails. Over the past week, ETH has lost more than 16%, pushing its year-to-date losses over 37%. ETF outflows and significant liquidations add to the bearish outlook. However, major whales are accumulating ETH, and 600,000 tokens were withdrawn from exchanges, suggesting long-term holding. Bulls must reclaim the $2,460 resistance to spark a recovery.

US stock market futures fell sharply at the open, with the Dow down over 300 points and the Nasdaq 100 down 1%. This steep decline in traditional markets has been mirrored in the crypto space, where falling prices signal a growing risk-off sentiment among investors. The downturn reflects heightened caution amid current uncertainties, as market participants brace for further volatility and closely watch economic and geopolitical developments.

Another Sunday selloff in crypto saw Bitcoin drop to $80,000 at 7 pm ET, marking a 7% decline over 24 hours. Despite a brief bounce to $80,700, BTC is headed toward its 2025 low of about $78,000. Other major coins, including Ether, Solana, and XRP, fell similarly, while Cardano and Dogecoin dropped around 12%. On Fox News, President Trump warned his tariff and budget-cutting policies might cause disruptions. US stock index futures also declined by roughly 0.85% overall.

Pi Coin price fell to as low as $1.26 before rebounding to $1.41, representing a 12% daily drop and 16% weekly. This downturn reflects the broader crypto market correction, as Bitcoin briefly plunged to $80,000 and many altcoins are in the red. Additionally, Binance’s inaction on PI trading—despite an 86% community vote in favor of listing—may be dampening liquidity, while other exchanges like Bitget, OKX, and MEXC have already enabled trading.