Bitcoin plunges to lowest level in seven months as digital asset falls to $80K range

Bitcoin plummeted to its lowest level in seven months on Friday, extending a brutal November selloff that has wiped out more than a fifth of its value and knocked the world’s biggest cryptocurrency down to the $80,000 range.

The rapid slide has dragged the token roughly 30% below its October record above $120,000 and erased all of its 2025 gains amid waves of forced liquidations and collapsing risk appetite.

Bitcoin briefly fell to about $80,600 before clawing back some losses to trade at $84,535 at Friday’s close.

The meltdown has vaporized more than $1 trillion in crypto market value since October and triggered more than $21 billion in leveraged liquidations across two major wipeouts that market participants say fundamentally damaged trading conditions.

Traders flagged a suspected pricing glitch on several platforms as Bitcoin fell below $81,000.

Crypto markets have struggled to recover from Oct. 10, when around $19 billion of mostly long, leveraged crypto positions were liquidated across centralized and on-chain derivative venues. It was the largest single-day wipeout in the market’s history.

Traders and analysts said the market never truly stabilized after that collapse, with liquidity thinning, ETF flows turning negative and volatility surging.

“What’s happening now with Bitcoin, to me, is the direct result of October’s massive sell-off,” Armando Aguilar, head of capital formation at TeraHash, told The Post.

“I think this appears to be an unresolved case. The market feels to me very unstable.”

Selling pressure intensified after a major Bitcoin whale offloaded $1.3 billion in late October and liquidated its remaining holdings this week, raising alarms that forced sellers are still lurking.

“Sentiment across the board is incredibly poor. There appears to be a forced seller in the market and it is unclear how deep this goes,” said Apollo Crypto portfolio manager Pratik Kala.

Institutional flows have worsened the rout.

Spot Bitcoin ETFs posted heavy outflows throughout the week, including record withdrawals from BlackRock’s IBIT, while Hong Kong-listed Bitcoin funds fell nearly 7%.

Analysts said the moves reflect rising risk aversion rather than structural rejection of crypto products, but the sales have drained liquidity at an inopportune moment.