The Bitcoin weekly drop intensified despite a short-term price recovery above $65,000. Bitcoin traded near $65,894 after rebounding from earlier losses during the reported session. Earlier in the day, the cryptocurrency fell to a low near $60,008 before reversing course.
The recovery did not offset broader weekly losses. Bitcoin was on track for a nearly 14% decline over the week. This marks the largest Bitcoin weekly drop since November 2022. The move represents one of the steepest weekly percentage losses in recent years.
Bitcoin Weekly Drop Reaches Largest Decline Since 2022
The scale of the Bitcoin weekly drop reflects sharp volatility across trading sessions. Prices moved within a wide intraday range. The rebound followed heavy selling pressure earlier in the week. Despite the recovery, Bitcoin remained significantly lower than levels seen at the start of the week.
The decline mirrors conditions last seen in late 2022, when crypto markets experienced major disruptions. The current weekly fall places Bitcoin among the weakest weekly performances recorded since that period.
Market Conditions Behind the Bitcoin Weekly Drop
The Bitcoin weekly drop occurred amid broader market turbulence. Risk-linked assets faced pressure during the same period. A sell-off in technology stocks coincided with weakness in cryptocurrencies. This contributed to Bitcoin’s downward movement during the week.
Bitcoin also briefly traded below $65,000 during earlier sessions. The drop triggered increased trading activity and price fluctuations. Market participants responded to rapid changes across both traditional and digital asset markets.
Price Levels and Trading Context
At the time of reporting, Bitcoin remained above key psychological price levels despite the weekly decline. The cryptocurrency’s recovery reduced daily losses but did not erase the weekly drop. The price action highlighted continued volatility across short-term and longer-term timeframes.
The Bitcoin weekly drop remains notable due to its size and speed. Weekly losses of this magnitude have been rare since late 2022. Bitcoin’s performance during the period underscores heightened price sensitivity amid shifting market conditions.
