Bitcoin’s price has taken a tumble, with the leading cryptocurrency falling some 3% in a matter of hours Sunday night.
The selloff pushed bitcoin’s price off a cliff, with bitcoin dropping vertically from $95,500 to $92,300 Sunday evening. At the time of writing, bitcoin is down 2.2% over the last 24 hours to $92,900, but it is still up 1.1% week-over-week.
The fall in fortune follows bitcoin’s impressive year-to-date rally. Bitcoin rose from $87,400 at the start of the year to as high as $97,500 last Wednesday. At the time of writing, bitcoin is up 6.3% year-to-date.
In 2025, bitcoin underperformed the wider market and other neutral currencies like gold, losing 6% in a frustrating year for investors.
Analysts and traders chattered on X to divine the reason behind the move, with some saying it’s a consequence of thin trading volume over a U.S. holiday weekend, with others pointing to the U.S. adding a 10% tariff to European goods.
While it may not be attributable to the current drop in bitcoin’s price, still others warned of investors becoming spooked by Bitcoin’s quantum computing risk. VanEck’s Head of Digital Asset Research posted about the threat as providing a potential headwind to bitcoin as investors sell their positions given the uncertainty.
