Bitcoin’s 25% drop from ATH could deepen, analysts say

Bitcoin’s second-worst February on record is set to extend into a new week, with price burdened by “aggravating macro factors” and a technical correction.

Bitcoin Bitcoin
btc
7.06%
Bitcoin was down 25% from its Jan. 20 all-time high of $108,786 as forward-facing inflation indicators incentivized a risk-off mood among investors, and spot exchange-traded funds logged continuous outflows on Wall Street.

Although U.S. Core Personal Consumption Expenditures price index data matched analyst expectations—dropping to 2.6% from 2.9% year over year—BTC only recorded a modest uptick, climbing to $81,800.

Previously, the most valuable cryptocurrency by market cap fell as low as $78,400, losing over 6% in 24 hours and hitting a three-month low.