Bitcoin prices crashed to a six-month low level on Monday, pressurised by dampening expectations of an interest rate cut by the US Federal Reserve rate next month. The world’s largest cryptocurrency, Bitcoin price was down 0.5% at $95,165, after sliding to an intraday low of $92,971.17, its weakest level since late April.
Bitcoin prices declined more than 10% in the past seven days, marking the third consecutive weekly loss. The latest fall in Bitcoin price has wiped out more than 30% gains notched since the beginning of this year. The token had hit a record of above $126,000 in October and has now officially entered bear territory.
Among other cryptocurrencies prices, Ethereum prices slipped 0.88% to $3,180.08, Solana fell 0.34% and Dogecoin lost 1%, while XRP bucked the trend, rising 0.53%.
Despite the sharp pullback, Bitcoin is attempting a gradual recovery after briefly dropping below $93,000.
“Inflation concerns resurfaced in the US after President Trump signaled tariff cuts to ease food prices, adding short-term volatility. However, a positive sign is emerging as whales and market makers have increased long positions since last week, actively buying the dip below $100,000,” said Edul Patel, CEO of Mudrex.
According to Avinash Shekhar, Co-Founder & CEO, Pi42, the drop in Bitcoin price was less about a single trigger and more about a market digesting overstretched sentiment, thin liquidity and rotating narratives.
“Attempts to stabilise near $95,000 are visible but every rebound is meeting supply as both institutional and retail participation remain muted. Ethereum is holding key zones yet ETF outflows continue to weigh on momentum, while altcoins like XRP are moving on very asset-specific flows that are not translating into broader conviction,” said Avinash Shekhar, Co-Founder & CEO, Pi42.
He added that such an environment calls for deeper research, patience and disciplined allocation, as recoveries in these phases are typically slow, uneven and driven by clearer improvements in liquidity.
A Bloomberg report noted that several of the largest buyers — including exchange-traded fund allocators and corporate treasuries — have stepped back over the past month, removing a key source of flow-driven support that helped push Bitcoin to record highs earlier this year. At the same time, a pullback in high-growth technology stocks has dampened overall risk appetite.
Investor sentiment is also being tested by the US government shutdown, which has delayed key economic data releases and kept uncertainty around the interest rate path elevated.
Bitcoin, which accounts for nearly 60% of the crypto market’s roughly $3.2 trillion capitalisation, has seen pronounced volatility this year. Prices fell to around $74,400 in April after US President Donald Trump announced tariffs, before rebounding to new highs ahead of the latest retreat. Another sharp blow came on October 10, when a surprise tariff announcement by Trump triggered record liquidations.
Bitcoin Price Outlook
According to CoinSwitch Markets Desk, Bitcoin price is holding firm above the $93,000 support zone while facing near-term resistance at $95,000 and a stronger ceiling at $96,000 – $96,500.
“Until a clear macro catalyst or fresh institutional flows emerge, Bitcoin may continue moving sideways. Traders should manage risk and wait for confirmed signals before taking new positions,” said CoinSwitch Markets Desk.
Edul Patel said that resistance for Bitcoin prices remains around $99,000, while a new support is forming at $92,700, indicating improving stability and early signs of a potential trend reversal.
(From inputs from Bloomberg)
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