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Bitcoin Set for Worst Month Since June 2022, Worst Week Since November That Year
This year's average purchase price is around $97,880, leaving investors facing an almost 20% unrealized loss at current prices.
Updated Feb 28, 2025, 1:03 p.m. Published Feb 28, 2025, 9:08 a.m.
What to know:
- Bitcoin is down 22% in February, and just under 18% this week.
- Both measures are the BTC's worst since 2022.
- The average purchase price of bitcoin this year is about $97,880, with investors facing an unrealized loss of more than 18%.
Bitcoin (BTC) is on track for its worst month in three years, falling 22% as President Donald Trump's tariffs on major U.S. trading partners raise concerns of faster inflation, reduced chance of interest-rate cuts and lowered appetite for risky investments.
The last time the largest cryptocurrency fell as much as June 2022, when it fell by more than a third. This week alone, BTC has dropped almost 18%, the steepest slide since the week ended Nov. 13 of the same year.
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The slide leaves investors who've bought bitcoin this year severely underwater. The average purchase price is since the start of January $97,880, and BTC dropped below $80,000 earlier Friday, leaving average buyer some 18% worse off.
Historically, this isn't entirely unusual. Investors often face some unrealized losses at the start of the year. It happens when the price of bitcoin falls below the cost basis of the recipients before recovering later in the year.
On-chain data indicates that realized losses escalated as the price fell. Over the past three days, about $1 billion in realized losses have been recorded daily — the most since August’s yen carry trade unwind, when bitcoin fell to $49,000.
Additionally, a whopping $1.1 trillion has been wiped off the crypto market cap, taking the total to $2.59 trillion, according to TradingView metric, Total.
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Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
What to know:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
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