Bitcoin Price Plummets Over $40,000 in Just Six Weeks as Market Faces Growing Uncertainty

Core Insights - Bitcoin has reached its lowest price since April, trading below $81,000, marking a significant decline as it is on track for its fourth consecutive week of losses [2][9] - The cryptocurrency has lost approximately one-third of its value since its peak of around $125,000 on October 6, indicating a substantial downturn in investor sentiment [2] Market Trends - The decline in Bitcoin's price is mirrored by a sell-off in altcoins such as ether and solana, as well as in cryptocurrency-related exchange-traded funds [3] - Major corporate holders of Bitcoin, like Strategy (MSTR), and crypto mining firms, such as Mara Holdings (MARA), have also seen their stock prices decrease [3] Economic Factors - Recent job reports showed unexpected job growth alongside a rise in the unemployment rate, contributing to uncertainty regarding future Federal Reserve interest rate policies, which is impacting Bitcoin's price [6][7] - The current market environment is characterized by heightened volatility, influenced by concerns over an artificial intelligence bubble and its effects on both stock and cryptocurrency markets [9]