Bitcoin just had its worst week since late 2024. It cracked below $60,000 on Friday, touched its 200-week moving average, and wiped roughly $200 billion off the total market in a matter of days. US spot Bitcoin ETFs alone saw around $4.4 billion in outflows — a record.
Plenty of people pointed the finger at MicroStrategy, whose massive bitcoin holdings and aggressive buying strategy have made it a lightning rod for criticism. But zoom out and the story gets murkier. Several on-chain bear market metrics suggest this kind of pullback isn’t abnormal — it’s actually within the range of what previous cycles have looked like.
That’s cold comfort if you’re down 30% on the year. But history shows that brutal corrections have been a feature of bitcoin’s price action, not a bug. The real question isn’t whether this crash was justified — it’s whether the current setup mirrors past bottoms or if there’s another leg down waiting.
Source: Unchained
