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Why is Crypto Crashing Today?
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.
Bitcoin touched $58,035 on Thursday morning, its weakest level of 2026, as crypto markets continued their retreat with $40 billion wiped from total market capitalisation in 24 hours, pushing the entire market dangerously close to slipping below the $2 trillion mark.
The move has drawn attention from prominent analysts. PlanB, creator of the widely followed Stock-to-Flow model, said Bitcoin will likely bottom below its Realized Price of approximately $53,000, consistent with every previous bear market in Bitcoin’s history.
The scale of the decline since October 2025 is significant. Bitcoin has fallen from $126,000 to $58,000, erasing $2.2 trillion in total crypto market value. Along the way it has survived the largest liquidation event in history, Trump’s tariff escalation with China, the U.S.-Iran military conflict, a Federal Reserve hawkish pivot and Strategy’s first Bitcoin sale in years.
The next key support level to watch sits between $53,000 and $55,000.
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