Crypto currency may be on its way out. Bitcoin and stocks are in a bout of volatility — and investors say more turbulence could be in store.
“Bitcoin’s pullback is part of a broader shift in risk sentiment,” said Haider Rafique, global managing partner at OKX, a crypto exchange.
In Wall Street terms, bitcoin is in a bear market — when a price falls more than 20% from a recent peak and Bitcoin has shed more than $600 billion in market value during its tumble, according to CoinMarketCap data.
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“How the market behaves over the next several days will signal whether this becomes a deeper reset or just a sharp, temporary dip in an otherwise intact cycle,” Rafique at OKX said.
“Bitcoin has struggled as a result of selling pressure from long-term holders taking profits but also uncertainty around Fed policy, the liquidity environment and other macro conditions,” said Gerry O’Shea, head of global market insights at Hashdex Asset Management.
Some buyers and sellers have left the market since then, so there are fewer orders for bitcoin, leaving the price more susceptible to volatility, according to Peter Chung, head of Presto Research.
“Bitcoin is under pressure in line with other risk assets (see the price actions of the AI stocks), but its downside is amplified due to a crypto-specific factor — namely, the orderbooks have gotten thinner in the aftermath of the (October 10) liquidations, which hurt many market makers in the space,” Chung said in an email.
“Right now, some investors see sideways churn and get spooked,” said Ryan Rasmussen, head of research at Bitwise Asset Management. “But in our view it’s the perfect opportunity for investors to build on existing bitcoin positions, and for those who have been sidelined to enter the market.”
The cryptocurrency market, particularly Bitcoin, has experienced significant turbulence following the October 2025 liquidation event that removed over $19 billion in leveraged positions. This has left order books thinner, contributing to heightened volatility. Market participants have been adjusting to the new market conditions, with some short-term holders selling and others seeking to capitalize on price swings.
The future trajectory of Bitcoin may likely depend on how quickly liquidity providers return and whether macroeconomic pressures ease, yet these factors remain uncertain. Despite the turbulence, cryptocurrency continues to attract attention as a speculative asset class, but its stability and long-term growth prospects are still debated, making it essential for investors to approach cautiously and remain informed about ongoing developments.
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Reduced liquidity and thinner order books have contributed to more pronounced price swings, affecting both short-term and long-term market participants. Despite these fluctuations, cryptocurrency continues to attract interest as a speculative asset, reflecting its ongoing relevance in financial markets.
The future of cryptocurrency remains uncertain but continues to draw significant attention from investors, regulators, and financial institutions. Technological developments, adoption by mainstream financial platforms, and evolving regulatory frameworks could shape market stability and growth. At the same time, digital assets remain sensitive to macroeconomic conditions, liquidity fluctuations, and investor sentiment, making price movements potentially volatile.