Bitcoin has fallen to around $70,600, marking its lowest weekly close in roughly 15 months and bringing price back to levels last seen during the first half of 2024.
The move confirms a deep corrective phase after Bitcoin failed to sustain its 2025 highs and rolled over into a sharp multi-month decline.
From 2025 Highs to Sharp Breakdown
According to the chart, Bitcoin peaked in mid-2025 slightly above $120,000, before momentum decisively reversed. Since that high, price has dropped to the current $70,600 zone, representing a decline of approximately 41% from the cycle peak.
The structure shows a clear sequence of lower highs followed by accelerating downside, indicating sustained selling pressure rather than a temporary pullback.
Market watchers also point to broader risk-off pressure across global equities as a contributing backdrop to Bitcoin’s decline. The sell-off coincided with sharp losses in Asian technology stocks, where rising concern over artificial intelligence spending, stretched valuations, and slowing earnings momentum pushed investors away from higher-risk assets.
MSCI’s Asia technology index extended its slide for a fifth time in six sessions, led by heavy losses in South Korea’s Kospi as AI-linked heavyweights came under pressure. This followed weakness in U.S. markets, where a Nasdaq pullback, triggered by disappointing earnings from companies such as Alphabet, reinforced fears that the current AI investment cycle may be losing momentum, weighing on broader risk sentiment.
Weekly Loss Confirms Momentum Shift
The latest weekly candle shows Bitcoin down 8.28% on the week, reinforcing the bearish momentum visible since late 2025. This decline pushed BTC decisively below prior consolidation zones, with no meaningful bounce attempts visible on the chart.
Volume remains elevated relative to much of 2024, suggesting the move lower is being accompanied by active participation rather than thin liquidity.
Return to 2024 Levels Resets the Market
Bitcoin’s current price aligns closely with the range traded during early-to-mid 2024, effectively erasing the entire 2025 rally. The breakout above these levels last year has fully failed, placing BTC back into a prior demand zone that will now act as a critical test of market conviction.
At this stage, the chart does not show evidence of stabilization, basing, or trend reversal, only a continuation of downside pressure into historical support territory.
