Bitcoin, which started a new wave of decline last week, lost almost 25 percent, and nearly $3 billion worth of assets were liquidated in futures markets.
Bitcoin, which entered 2026 by challenging the $100,000 level, unfortunately could not make the expected moves. First, the memory crisis, then the gold rally, and finally the US-Iran war causing oil prices to skyrocket, exasperated Bitcoin investors.
Bitcoin price still hasn't hit rock bottom
After experiencing a shocking drop last October, Bitcoin could not recover before 2026 began with major events. The Bitcoin price, which challenged the $100,000 mark in January, started its second major decline during the Eid al-Adha period, falling to the $61,000 level. A drop of approximately 25 percent occurred in just 1 week.
Despite no major global market turmoil, the significant drop in Bitcoin's price is attributed to SpaceX's IPO move. It is estimated that large investors, wanting to buy SpaceX shares, which are expected to be the largest IPO in history, sold Bitcoin.
If the predictions are correct, Bitcoin's price, which has suffered significant losses over a 6-month period, depends on the SpaceX stock market process to recover. A continuously rising SpaceX stock could cause problems, but investors selling at a certain point and returning to Bitcoin could trigger a new upward trend.
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