Bitcoin Erases Year's Gain as Crypto Bear Market Deepens (msn.com)
(Monday November 17, 2025 @03:35AM (EditorDavid)
from the back-from-the-moon dept.)
- Reference: 0180100547
- News link: https://news.slashdot.org/story/25/11/17/024220/bitcoin-erases-years-gain-as-crypto-bear-market-deepens
- Source link: https://www.msn.com/en-my/technology/cryptocurrencies/bitcoin-erases-year-s-gain-as-crypto-bear-market-deepens/ar-AA1Qyebl
655"Just a little more than a month after reaching an all-time high, Bitcoin has erased the more than 30% gain registered since the start of the year..." [1]reports Bloomberg :
> The dominant cryptocurrency fell below US$93,714 on Sunday, pushing the price beneath the closing level reached at the end of last year, when financial markets were rallying following President Donald Trump's election victory. Bitcoin soared to a record US$126,251 on Oct 6, only to begin tumbling four days later after unexpected comments on tariffs by Trump sent markets into a tailspin worldwide. "The general market is risk-off," said Matthew Hougan, the San Francisco-based chief investment officer for Bitwise Asset Management. "Crypto was the canary in the coal mine for that, it was the first to flinch."
>
> Over the past month, many of the biggest buyers — from exchange-traded fund allocators to corporate treasuries — have quietly stepped back, depriving the market of the flow-driven support that helped propel the token to records earlier this year. For much of the year, institutions were the backbone of Bitcoin's legitimacy and its price. ETFs as a cohort took in more than US$25 billion, according to Bloomberg data, pushing assets as high as roughly US$169 billion. Their steady allocation flows helped reframe the asset as a portfolio diversifier — a hedge against inflation, monetary debasement and political disarray. But that narrative — always tenuous — is fraying afresh, leaving the market exposed to something quieter but no less destabilising: disengagement. "The selloff is a confluence of profit-taking by LTHs, institutional outflows, macro uncertainty, and leveraged longs getting wiped out," said Jake Kennis, senior research analyst at Nansen. "What is clear is that the market has temporarily chosen a downward direction after a long period of consolidation/ranging..."
>
> Boom and bust cycles have been a constant since Bitcoin burst into the mainstream consciousness with a more than 13,000% surge in 2017, only to be followed by a plunge of almost 75% the following year... Bitcoin has whipsawed investors through the year, dropping to as low as US$74,400 in April as Trump unveiled his tariffs, before rebounding to record highs ahead of the latest retreat... The market downturn has been even tougher on smaller, less liquid tokens that traders often gravitate toward because of their higher volatility and typical outperformance during rallies. A MarketVector index tracking the bottom half of the largest 100 digital assets is down around 60% this year.
[1] https://www.msn.com/en-my/technology/cryptocurrencies/bitcoin-erases-year-s-gain-as-crypto-bear-market-deepens/ar-AA1Qyebl
> The dominant cryptocurrency fell below US$93,714 on Sunday, pushing the price beneath the closing level reached at the end of last year, when financial markets were rallying following President Donald Trump's election victory. Bitcoin soared to a record US$126,251 on Oct 6, only to begin tumbling four days later after unexpected comments on tariffs by Trump sent markets into a tailspin worldwide. "The general market is risk-off," said Matthew Hougan, the San Francisco-based chief investment officer for Bitwise Asset Management. "Crypto was the canary in the coal mine for that, it was the first to flinch."
>
> Over the past month, many of the biggest buyers — from exchange-traded fund allocators to corporate treasuries — have quietly stepped back, depriving the market of the flow-driven support that helped propel the token to records earlier this year. For much of the year, institutions were the backbone of Bitcoin's legitimacy and its price. ETFs as a cohort took in more than US$25 billion, according to Bloomberg data, pushing assets as high as roughly US$169 billion. Their steady allocation flows helped reframe the asset as a portfolio diversifier — a hedge against inflation, monetary debasement and political disarray. But that narrative — always tenuous — is fraying afresh, leaving the market exposed to something quieter but no less destabilising: disengagement. "The selloff is a confluence of profit-taking by LTHs, institutional outflows, macro uncertainty, and leveraged longs getting wiped out," said Jake Kennis, senior research analyst at Nansen. "What is clear is that the market has temporarily chosen a downward direction after a long period of consolidation/ranging..."
>
> Boom and bust cycles have been a constant since Bitcoin burst into the mainstream consciousness with a more than 13,000% surge in 2017, only to be followed by a plunge of almost 75% the following year... Bitcoin has whipsawed investors through the year, dropping to as low as US$74,400 in April as Trump unveiled his tariffs, before rebounding to record highs ahead of the latest retreat... The market downturn has been even tougher on smaller, less liquid tokens that traders often gravitate toward because of their higher volatility and typical outperformance during rallies. A MarketVector index tracking the bottom half of the largest 100 digital assets is down around 60% this year.
[1] https://www.msn.com/en-my/technology/cryptocurrencies/bitcoin-erases-year-s-gain-as-crypto-bear-market-deepens/ar-AA1Qyebl
Luckily I invested all in ugly monkey pictures (Score:3)
by thesjaakspoiler ( 4782965 )
Those ugly grumpy monkey pictures are cryptomagically blockchained so my investment is secure!
The thing with no intrinsic worth... (Score:5, Insightful)
... is dropping in value!
Re:The thing with no intrinsic worth... (Score:4, Insightful)
Gold has intrinsic value, as you said, but a lot more than in just industry. Jewelry is a pretty big market last I checked. If gold were less valued, its use in industry would be more widespread, because it doesn't oxidize. Gold may be overvalued, but it has intrinsic worth.
NVIDIA stock is ownership of a small part of the company. The company has a tremendous amount of value. NVIDIA stock may be overvalued, but it has intrinsic worth.
The dollar is backed by the The Full Faith and Credit Clause of the United States Constitution, which means it's backed by the American people. That is a lot of value right there. It may be overvalued, but not by all that much.
Bit Coin? It's just what people are willing to pay and nothing more. Even if you value the law-skirting uses of crypto, there is no reason to have limited coins, unless that is you want to make a tulip craze and fuck people out of their money. Zero intrinsic worth. Zero.
You sure use the word "leftist" a lot. Might want to get your head checked.
Re: The thing with no intrinsic worth... (Score:2)
What is the value of gold?
Well, women like bright shinny objects to wear. Gold is among their favorites. So gold will help me get laid.
Nvidia stock? A little more difficult there, but it is a very large company that makes a bunch of chips. Some of which make games look really good on my computer. So, if I can get enough gold to give to the ladies to get laid, I'll lock myself in my mom's basent and play videos games which is a decent backup plan to hold.
Now for the big onr, USD. I can always pay someo
Re: (Score:2)
Nice bunch of extreme lies you have there. Not any surprise.
Here is the first one: In actual reality, the industrial value of gold is not far from its market price. Typically about 50% of it. Do you really think it would get used in industrial applications if it was 100x more expensive than the value using it provides?
Re: (Score:2)
as is USD
as is GBP
as is EURO
as is real estate
as is the value of life
most things other than the temperature really..
Re: (Score:2)
Jesus fucking Christ. I didn't know every incel was going to get all philosophical.