Bitcoin's slide deepened on Wednesday, with the price dropping as low as $61,300 for the first time since February, extending one of the most turbulent periods for the world's largest cryptocurrency this year.
The price is down more than 25% from its high earlier this month and over 30% since the start of the year, making 2026 one of Bitcoin's weakest years in recent memory relative to other major risk assets.
At the time of writing, Bitcoin has bounced slightly and is trading around $63,000.
What makes the current sell-off particularly significant is not just its scale but its source.
According to several analysts tracking the blockchain, long-term holders — typically defined as investors whose Bitcoin has remained unmoved for at least 155 days — are selling aggressively after remaining largely dormant from February through April.
