Bitcoin crashing, sinks below $97,000 to its lowest lowest in six months, despite US government reopening; Is another fall yet to come?

Bitcoin sank to under $97,000 in the past 12 hours, its lowest level since early May, despite positive macro developments such as the US government officially reopening. The sharp decline marked a steep reversal for the cryptocurrency, which had traded above $107,000 just three days earlier after President Donald Trump pledged tariff checks of at least $2,000 for some Americans and hinted that the shutdown would soon end.

But BTC failed to sustain that momentum. It quickly slid back to $103,000, briefly rebounded to $105,000 on Wednesday, and then turned sharply lower on Thursday. Although bitcoin initially jumped when the president signed legislation to reopen the government, the market reversed course shortly afterward, triggering a drop of more than $8,000 in under 24 hours.

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Is it signaling another fall in Bitcoin prices?

Market analyst Doctor Profit, who has been bearish for weeks, warned the downturn may deepen, predicting another fall to somewhere between $90,000 and $94,000.


Altcoins also plunged in the broad sell-off, with AAVE, ENA, RENDER, SUI, PEPE, and LINK each shedding over 12 per cent. The largest altcoin fell more than 11 per cent, sliding well below $3,200. Despite easing political uncertainty in the US, the crypto market remains firmly in risk-off territory.

Ether slid over 8% to about $3,500, with XRP, DOGE, Solana’s SOL and Cardano’s ADA also logging steep losses. The market turned sharply risk-off, mirroring equity weakness across Asia as traders unwound leverage and moved to cash.

More than $1 billion in leveraged crypto positions were liquidated in 24 hours, including $887 million in longs, one of the month’s biggest bull-side flushes, reports Coin Desk.