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Bitcoin Loses 15% In A Single Week To Settle At $83,000
Data from CoinMarketCap indicates that the largest cryptocurrency has shed a significant chunk of its value since the start of November, with prices threatening to slip under $85K. At press time, the top crypto has lost over 6% in the last 24 hours to trade at the $83K mark, as clear signs of a price bottom remain elusive.
On the seven-day chart, Bitcoin has fallen by over 16%, marking one of its biggest weekly declines in 2025. Despite the jarring price decline, daily trading volumes are up by nearly 44% to settle at $137.9 billion.
Barely a month ago, Bitcoin reached its all-time high of $126,198, with the latest price slump representing a 28.13% decline for the leading asset. Zooming out, the BTC decline has erased its yearly gains, stoking embers of the start of an extended bear market for the asset, with market capitalization dipping under 1.8 trillion.
Meanwhile, Bitcoin has dragged the rest of the cryptocurrency market underwater. Ethereum, the largest altcoin, is trading below $3,000 after tumbling by over 6% in a single day.
 
XRP, SOL, and BNB have had their fair share of the broader market declines, losing over 10% on the 24-hour charts. For now, the global cryptocurrency market capitalization sits tentatively under the $3 trillion mark with trading volumes soaring at $219 billion.
As market participants try to make sense of Bitcoin’s recent decline, CryptoQuant CEO Ki Young Ju has pointed accusing fingers at long-term holders. Ju noted that Bitcoin OGs are selling their holdings to traditional finance, triggering the current decline for the top cryptocurrency.
Despite the mass sales, Ju suggests that the dip will be temporary since new traditional finance entities have indicated a desire to hold the asset long-term. He argues that Bitcoin ETFs and Michael Saylor’s Strategy are injecting fresh liquidity into the market, with sovereign funds and corporate treasuries powering on-chain inflows.
“This dip is just long-term holders rotating among themselves,” said Ju. “Old Bitcoiners are selling to tradfi players, who will also hold for the long run.”
Meanwhile, reports of Fed Chair Jerome Powell casting doubts on December rate cuts have spooked investors, with leveraged longs liquidations adding to the overall market bearishness.