Bitcoin Shares edged higher on Monday after the world’s largest cryptocurrency fell below $80,000 for the first time since April 2025.

According to data from CoinMetrics, Bitcoin was trading at $77,925.99 at 08:37 a.m. ET on Monday, up about 1%. Bitcoin fell to $74,876 but later recovered some of its losses. The digital currency has fallen about 12% in the past seven days, wiping more than $200 billion in value from the Bitcoin market, CoinMarketCap data shows.

Bitcoin fell below $80,000 over the weekend.

Dessislava Ianeva, a research analyst at cryptocurrency exchange Nexo, told CNBC that Bitcoin’s decline “coincided with a broader flight to safety in global markets” and was “amplified by structural weekend liquidity reductions rather than due to cryptocurrency-specific developments or signs of fundamental stress.”

Bitcoin is often correlated with risky assets such as stocks, and can fall as well as rise with it. U.S. stocks fell on Fridayheaded by a technical name, e.g. MicrosoftShare price fell 10% after the earnings report was announced disappointed investors.

This negativity permeates European and Asian stock markets on Monday.

Gold and silver extend losses on Monday. Silver fell 30% on Friday, its worst day since March 1980.

Bitcoin’s plunge was exacerbated by forced liquidations, in which traders’ positions are automatically sold when they reach a certain price. More than $2 billion in long and short Bitcoin positions have been liquidated since Thursday, Coinglass data shows.

Liquidation can be Knock-on effects on the cryptocurrency marketprices can drop quickly when traders close their positions.

Investors are still assessing the potential impact Kevin Washwho will succeed Jerome Powell as Fed Chair.

Data from CoinShares showed that outflows from digital asset investment products last week totaled $1.7 billion for the second consecutive week. Outflows have totaled $1 billion so far this year, “suggesting a clear deterioration in investor confidence in the asset class,” CoinShares head of research James Butterfill said in a report on Monday.

Yuya Hasekawa, an analyst at Japanese cryptocurrency firm Bitbank, told CNBC that the recent Bitcoin sell-off “appears to be driven by a combination of rising geopolitical risks, the Microsoft-induced decline in technology stocks, and the collapse of precious metals, which has been one of the only remaining safe havens for investor capital in recent weeks.”

Although Bitcoin is sometimes touted as an asset to invest in during market volatility, it is down about 22% from last year.

Other cryptocurrencies were also lower on Monday after selling off over the past few days, including ether and Ripple.

Cryptocurrency liquidations hit $2.56 billion on Saturday, making it the tenth largest single-day event, according to Coinglass.

Cryptocurrency market participants told CNBC last month to expect Bitcoin volatility this year and made price predictions From $75,000 to over $200,000.

Bitbank’s Hasegawa said Bitcoin’s “short-term bottom” may be approaching around $70,000, which could be a “key reference point.”

Hasegawa added: “A sustained significant move below this level may require a meaningful adjustment to market conditions.”

However, some believe Bitcoin could fall significantly further. Zacks chief equity strategist John Blank said Bitcoin could reach $40,000 this year.

“We can get there very quickly, or more likely, we’ll get there in the next six to eight months,” Blank told CNBC’s “Squawk Box Europe” on Monday.

Blank said he arrived at this number by looking at the lows and highs of previous cycles.

During the past “crypto winter”, Bitcoin prices have fallen by 70% to 80% from all-time highs. Its all-time high is $126,000, hit in October. $40,000 would be about a 70% drop from that level.