Bitcoin Briefly Erases 2025 Gains As Crypto Bleeds Over Weekend

Bitcoin’s latest tumble pushed it below the $93,507 price it entered the year at, despite the year mostly seeing positive industry developments from corporations and governments.

Bitcoin briefly lost all of its gains this year after the crypto markets bled over the weekend, despite the US government reopening on Thursday, which was expected to provide much-needed relief to the markets.

Bitcoin (BTC) fell to a low of $93,029 on Sunday, down 25% from its all-time high in October. It started the year at $93,507.

It has since rebounded to around $94,209, CoinGecko data shows.

This year was tipped to be a strong one for the crypto markets after US President Donald Trump was inaugurated on Jan. 20 and formed the most pro-crypto administration to date, which has followed through on most of his promises.

Regulatory momentum under the Trump administration has been accompanied by an explosion in corporate Bitcoin treasury adoption and more inflows into the spot Bitcoin exchange-traded funds.

However, Trump’s war on tariffs and the US government shutdown — the latter of which ended on Thursday after a record 43 days — have contributed to multiple double-digit Bitcoin price pullbacks throughout the year.

Another key catalyst seen behind Bitcoin’s price slump has been OG Bitcoiners and whales selling off portions of their holdings, compressing upside even in light of positive industry developments.

However, Glassnode analysts last week said the “OG Whales Dumping” Bitcoin narrative isn’t as strong as it is made out to be, explaining that it is “normal bull-market behaviour,” particularly during the late stages of bull runs.

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Source: CoinTelegraph