Bitcoin fell significantly in the past hours of trading on Thursday, erasing all of its gains made at the beginning of 2025, as the sell-off in cryptocurrency prices accelerated due to macroeconomic concerns and the global bond crisis.#altcoins
The largest cryptocurrency fell to a session low of $92,600 during U.S. trading hours, down about 10% in two days from Monday’s peak of more than $102,000. It has recently recovered some of its losses and is now trading at $94,300, down 2.5% in the past 24 hours.
Cardano (ADA), Render (RNDR), and Aptos (APT) led the losses in the overall market, with the coins falling by more than 3% in the past 24 hours.
The two-day crash led to the liquidation of nearly $1 billion in leveraged derivatives positions on cryptocurrency assets, most of them long positions that were betting on a price rise, according to Coinglass data. The plunge also temporarily pushed bitcoin below its level at the start of the year.
Cryptocurrency-related stocks were not spared. Bitcoin mining companies TeraWulf (WULF), Bit Digital (BTBT), Bitdeer (BTDR), IREN (IREN) and Hut 8 (HUT) saw declines ranging from 5% to 8%. Medical device company Semler Scientific, which has adopted a strategy of holding bitcoin in its vaults in the footsteps of MicroStrategy (MSTR), fell nearly 10% on the day, bringing its total decline to more than 15% this week and nearly 40% since its peak in late December. MicroStrategy shares were down 2.2% on Wednesday.$APT