The bitcoin price has plummeted under the closely-watched $80,000 per bitcoin level, sparking fears that a full-blown bitcoin and crypto crash could be looming.

The price of bitcoin fell about 10% over the past week.

This surge in demand for lower-strike puts contrasts with the post-Trump-election pattern of enthusiasm for high-strike calls.

Fears have been swirling for years that the era of U.S. dollar reserve currency status could be coming to an end, with the turmoil triggered by U.S. president Donald Trump’s global trade tariffs and the rise of China as a economic challenger to the U.S. stoking those fears.

Michael Burry warns Bitcoin breakdown could trigger cascading market risks.

From November 10 to December 1, Bitcoin fell from a valuation of about $106,000 to a low of under $85,000. Concerns surrounding tech stocks, liquidity, and a variety of other complex factors had contributed to a deepening risk mood in crypto spaces.

Marginally good news and big bitcoin purchases have yet to move the cryptocurrency in a meaningfully positive direction.

The Bitcoin price attracts attention from analysts and traders who watch its moves on crypto exchanges. Researchers usually point to a few factors that move the coin’s price through different cycles. The key drivers include supply limits, market demand, macroeconomics, and market behaviors.

Bitcoin price dropped sharply below $77k on Wednesday, following a strong market sell-off. The broader concern about the US government shutdown added to

The nomination of Kevin Warsh as Fed chair was the latest in a long line of hits absorbed by bitcoin in recent months.

Cryptocurrency markets fell as global equities and precious metals sold off, while bitcoin liquidations exacerbated downside moves.