Crypto analyst il Capo of Crypto has released a new statement following the drop in Bitcoin’s price.
Bitcoin has experienced a sharp decline in recent hours, falling below the $80,000 level and reaching prices last seen in April 2025.
With weak liquidity and limited buying appetite, selling pressure deepened, and losses accelerated in the world’s largest cryptocurrency.
Bitcoin fell by as much as 7.1%, dropping to $78,159.41. This means the asset has lost more than 30% of its value since its peak levels. The sharp sell-off wasn’t limited to Bitcoin; Ethereum fell by more than 10%, while Solana lost over 11% of its value.
According to data provider CoinGecko, the total value of the cryptocurrency market decreased by approximately $111 billion in the last 24 hours. This sharp pullback follows Bitcoin’s weak response to macroeconomic developments in recent weeks.
It was noteworthy that despite the weakening of the US dollar throughout January, there was no significant recovery in the crypto markets. Similarly, Bitcoin’s failure to react strongly during gold’s record-high rises, and its inability to attract significant capital inflow despite the sharp pullback in gold and silver on Friday, raised questions in investor sentiment.
Experts note that debates surrounding Bitcoin’s role in portfolios have been reignited. Once positioned as both a momentum asset and a hedge against monetary expansion, Bitcoin has recently struggled to fulfill either of these functions. The continued outflows from spot ETFs, the lack of demand for crypto due to geopolitical risks, and the concentration of safe-haven flows largely in precious metals and cash are cited as factors increasing selling pressure.
On the other hand, analyst il Capo of Crypto stated in his assessment on social media that the current decline could be a “bear trap” and argued that a rebound could happen soon. In addition, he claimed that the prices of XMR and ZEC have currently retreated to long-term support zones.
