Bitcoin price plunged to nearly $75,000 today amid a continuous and sharp selloff in high volume that erased more than 10% from recent highs and pushed the asset below $80,000 for the first time since April 2025.
Data shows that BTC fell from a 24-hour high of $84,356 to a low of $75,644 in a matter of hours as sellers overwhelmed bid support across major exchanges.
The move marked one of the steepest single-day falls of the year and triggered extensive liquidations in the derivatives markets.
Selling accelerated after the bitcoin price failed to hold support near $82,500. When this level broke, the price moved quickly through thin liquidity zones, with little sign of sustained dip buying until the mid-$70,000 range. Traders described the move as a deleveraging event rather than a gradual risk-off rotation.
On the daily chart, the bitcoin price broke below an uptrend line that had been holding since late December. The price also decisively broke below the 50-day exponential moving average near $90,000, turning that level into overhead resistance, according to Bitcoin Magazine Pro Data.
Volume grew during the crash, signaling forced exits and margin liquidations rather than low-judgment selling.
Bitcoin Price Analysis As US Government Enters Partial Shutdown
Despite the sharp decline, on-chain data suggests renewed interest from new buyers. Network data shows a surge in new bitcoin addresses over the past 24 hours, reaching the highest daily increase in nearly two months.
Bitcoin’s decline also outpaced recent declines in traditional markets, but it still outperformed gold in the same window. While BTC fell around 6% to 8% during the selloff, gold posted a steeper decline, reinforcing bitcoin’s relative strength during the volatility.
Until the bitcoin price regains the $82,000 to $84,000 range, traders say downside risk remains elevated. The next key support zone lies in the low-to-mid $70,000s, with a longer-term focus shifting towards whether the market can stabilize.
The US government entered a partial shutdown after Congress failed to pass a full-year spending package by Friday’s midnight deadline, leaving several major departments temporarily unfunded.
The Senate approved a funding deal to keep most agencies running through September and a two-week break for Homeland Security, but the measure awaits House approval, which cannot happen until lawmakers return from recess on Monday.
The impasse is fueled by Democratic demands for changes to immigration enforcement practices following the fatal shooting of two U.S. citizens in Minnesota, with continued divisions in the House of Representatives.
At the time of writing, the bitcoin price is trading at $77,825, down 7% over the past 24 hours as daily trading volume reached $75 billion.
The asset is now 8% below its seven-day high of $84,368 and sits just 1% above its seven-day low of $77,534.