Bitcoin’s Pullback — What Just Happened? Back in October 2025, Bitcoin was flying at $126K. Fast forward to today: $68K. That’s a 46% reset. So what changed? The easy arbitrage money dried up. Hedge funds unwound basis trades as yields compressed. At the same time, broader market volatility and macro uncertainty hit risk appetite. When liquidity tightens, BTC feels it. The result? Liquidations. Drawdowns. Pressure on miners. Confidence shaken. Narratives tested. This isn’t new. Bitcoin moves in cycles expansion, euphoria, compression, reset. Volatility isn’t a flaw. It’s the feature. Risk management matters. Always.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
GM FAM
Bitcoin’s Pullback — What Just Happened?
Back in October 2025, Bitcoin was flying at $126K. Fast forward to today: $68K. That’s a 46% reset.
So what changed?
The easy arbitrage money dried up. Hedge funds unwound basis trades as yields compressed. At the same time, broader market volatility and macro uncertainty hit risk appetite. When liquidity tightens, BTC feels it.
The result?
Liquidations. Drawdowns. Pressure on miners. Confidence shaken. Narratives tested.
This isn’t new. Bitcoin moves in cycles expansion, euphoria, compression, reset.
Volatility isn’t a flaw. It’s the feature.
Risk management matters. Always.