traders: Bitcoin drops to $78,000 as MicroStrategy-fueled rally runs out of buyers, traders say

Bitcoin sank to its lowest levels since April as profit-taking by early holders collided with thinning liquidity and a sharp drop-off in fresh capital. What to know : Bitcoin tumbled more than 10 percent on Saturday to about $75,700, extending a slide that has erased over 30 percent of its value since April 2025 and dragging major tokens like ether and Solana sharply lower. Roughly $111 billion in crypto market value and about $1.6 billion in leveraged positions were wiped out in 24 hours amid thinning liquidity, muted buying interest and a halt in new capital flowing into bitcoin. Analysts say long-term holders are taking profits after last year’s ETF-fueled rally, and they expect a drawn-out period of sideways trading rather than a swift rebound, even as a deep 70 percent crash appears unlikely without selling by MicroStrategy.