The price of Bitcoin drops below $65,000
Summary
Bitcoin's value plummeted over 10% to around $64,000, marking its lowest point since the 2024 Presidential election. This decline follows a peak of over $122,000 in October 2025, as reported by CNBC and CoinDesk.
Key Insights
What factors are driving Bitcoin's recent price drop below $65,000?
Bitcoin's decline to around $65,000 stems from broader market pressures including weakening technology stocks, negative ETF flows, deteriorating investor confidence following a $29 million hack on Solana-based DeFi platform Step Finance, and a rotation into safe havens like gold which surged past $5,000 per ounce. The Crypto Fear and Greed Index has reached 12, its lowest since November 2025, indicating extreme fear.
What does Bitcoin falling below its estimated production cost mean?
JPMorgan estimates Bitcoin's production cost at around $87,000, which has historically acted as a 'soft price floor.' With the current price at $65,000 below this level, unprofitable miners may exit the market, potentially lowering production costs further and exerting additional downward pressure on prices.
Sources:
[1]