Bitcoin just printed its worst weekly performance since November 2022. The sell-off undercut confidence fast. In the past week, bitcoin fell almost 20%. It is down more than 50% from its peak, according to reporting cited by NewsData.io.
The price drop also pushed bitcoin below $61,000, its lowest level since September 2024, per NewsData.io. The move wiped out almost a fifth of the asset’s value in days and left it trading at less than half of the record high above $126,000 reached in October last year.
Why this week turned ugly
NewsData.io points to a mix of signals that spooked investors. The headline driver was a disclosure from Strategy, described by NewsData.io as the world’s largest corporate bitcoin holder, that it sold a portion of its holdings.
The sale was small in absolute terms, NewsData.io says the disposal was worth around $2.5 million. But Strategy’s executive chairman Michael Saylor has long been one of bitcoin’s most vocal supporters. NewsData.io notes that the sale likely read as a sentiment shift even though it represented only a tiny fraction of Strategy’s bitcoin holdings, valued at more than $50 billion.
That gap matters. When a market moves on interpretation, not magnitude, the same dollar amount can land very differently depending on who sells and why.
Capital is getting pulled elsewhere
The other pressure in NewsData.io’s account is competition for investment attention. NewsData.io highlights the planned stock market debut of SpaceX, which is reportedly seeking to raise up to $86 billion in a public offering that could value the company at nearly $1.8 trillion.
NewsData.io adds that retail investors are expected to participate heavily. Some analysts, per NewsData.io, believe money that could have gone into cryptocurrencies is being redirected toward the SpaceX IPO story.
Mark Dowding, chief investment officer for fixed income at RBC BlueBay Asset Management, told a news report that some digital asset investors appear to be moving away from cryptocurrencies after a prolonged period of weaker returns. Dowding also said the correction underscores how quickly enthusiasm can shift when an asset loses momentum, according to NewsData.io.
In other words, this is not only about bitcoin’s internal news cycle. It is about where new dollars decide to show up.
The FTX comparison, and what it does to risk perception
The magnitude and speed of this decline triggered comparisons to November 2022, when the collapse of the FTX exchange sparked a broader crisis of confidence across cryptocurrency markets, NewsData.io notes.
The current drawdown has different causes, NewsData.io says. Still, the parallel matters because it feeds a familiar market reflex. When volatility spikes, investors who have been tolerating risk suddenly start questioning how stable their assumptions are.
NewsData.io frames the next step as a confidence test. Whether bitcoin stabilizes or suffers further losses depends on whether investor confidence returns and whether capital keeps flowing toward other fast-growing opportunities.
Snapshot of the move
| Metric | What NewsData.io reports |
|---|---|
| Weekly drop | Almost 20% in a week |
| Worst weekly performance since | November 2022 |
| Distance from peak | More than 50% from its peak |
| Current level mentioned | Below $61,000, lowest since Sept 2024 |
| Record high referenced | Above $126,000 reached in October |
| Strategy sale size | Around $2.5 million |
| Strategy holdings value cited | More than $50 billion |
| Comparison event | FTX collapse in 2022 |
For now, NewsData.io’s account lands on the same hard lesson every time crypto stumbles. Sentiment can flip quickly.