Sharp Losses in Crypto Market: Significant Decline in Bitcoin and Ether

Bitcoin lost 16 percent on a weekly basis, falling to the $70,008 level.
This figure is approximately 45 percent below the historical peak of $126,273 recorded in October.
Ether, the market's second-largest asset, dropped by 24 percent to $2,052, falling 59 percent behind its peak from last year.
Lack of a Clear Trigger According to an analysis by the Wall Street Journal, unlike previous major crashes, there is no clear crisis headline shaking the market this time.
While there has been no systemic collapse like the 2018 ICO bubble or the 2022 FTX bankruptcy, experts are expressing different views on the cause of the decline.
Galaxy Digital founder Michael Novogratz and SkyBridge Capital founder Anthony Scaramucci emphasize that the sell-off in the market does not have a single decisive cause but is influenced by a multi-layered structure.
Alternative Investments and the ETF Debate Some analysts state that investor interest has shifted to alternative areas such as artificial intelligence, gold, silver, and prediction markets.
ProCap Financial CEO Anthony Pompliano noted that Bitcoin used to be the only address for asymmetric opportunities, but today options have multiplied.
Additionally, the widespread adoption of Bitcoin-based exchange-traded funds (ETFs) and derivative products is among the topics discussed in the market as potentially weakening the perception of the asset's "scarcity." Macroeconomic Pressures and Regulations The hawkish monetary policy approach of Kevin Warsh, whose name has been mentioned for the US Federal Reserve (Fed) chairmanship, and the strengthening dollar index are seen as other factors putting pressure on crypto assets.
On the other hand, uncertainties in the legal regulation processes in the US are also negatively affecting the market.
Despite the Genius Act, which creates a legal basis for stablecoins, the lack of progress on the Clarity Act bill, which is expected to provide a comprehensive framework, is reducing investor appetite.
Profit-Taking and Future Expectations Another significant reason for the decline in the market is cited as profit-taking following the 80 percent rise recorded after the 2024 US elections.
Some strategists argue that this correction period may be short-lived because the market infrastructure is stronger than in the past.
Figures such as MicroStrategy founder Michael Saylor are calling on investors to maintain a long-term perspective of at least four years despite the current fluctuations.