In Bitcoin’s case, its market cap dropped by as high as 5.8% in just 24 hours, falling to around $2 trillion. Trading activity has surged massively during the downturn, crossing over $100 billion.
The crash below $100,000 opens up questions about whether the bear market has officially begun. The Bitcoin price is still up 8% on a yearly basis, but the scale of recent losses alongside the rising US dollar index points to a more cautious phase ahead. At the time of writing, Bitcoin has already rebounded above $100,000 and is now pushing towards $102,000. The rebound means that a section of traders has seized the opportunity to accumulate more during the dip, and Bitcoin is now trading at $101,770.
The last time this support was tested was in April 2025, and what followed was a powerful rebound that sent the Bitcoin price soaring more than 50% to reach $125,000 in the months that followed.
