Bitcoin Drops 40% in Four Months. Bloomberg Blames Absence of Buyers and Belief

October saw Bitcoin reach $123,742. But less than four months later, the world’s largest cryptocurrency slipped below $76,000, dropping about 40% from its 2025 peak. What began as a sharp crash in October has morphed into something more corrosive: a selloff shaped not by panic, but by absence of buyers, momentum and belief.

Unlike the October drawdown, there’s been no obvious spark, cascading liquidations or systemic shock — just fading demand, thinning liquidity, and a token that’s untethered to broader markets. Bitcoin has failed to respond to geopolitical stress, dollar weakness, or risk rallies. Even during gold and silver’s violent swings in recent weeks, crypto saw no rotation. Bitcoin fell nearly 11% in January, marking its fourth straight monthly decline — the longest losing streak since 2018, during the crash that followed the 2017 boom in initial coin offerings…

Even more striking than the drop itself is the relative lack of optimism around it on social media. In a space known for relentless bravado and “number go up” memes, Bitcoin’s slide has been met with little cheerleading or dip-buying fanfare… [Despite legislative wins and some institutional investments] Many investors say that optimism was front-run. Prices rallied early — and then stalled. Meanwhile, spot ETFs continue to bleed, a sign of weakening conviction among mainstream buyers — many of whom are now underwater after buying at higher prices.

On Thursday, Bitcoin closed at 88,228. By Sunday it had plunged another 13%, to 76,790…