Bitcoin has experienced its worst monthly performance since June 2022, dropping by 22% in February. This decline is attributed to concerns over inflation, potential interest rate changes, and a reduced appetite for risky investments. This week alone, Bitcoin fell nearly 18%, marking its steepest weekly decline since November 2022. Investors who bought Bitcoin this year are now facing significant unrealized losses, with the average purchase price at $97,880, while the cryptocurrency dipped below $80,000. On-chain data shows that over the past three days, approximately $1 billion in realized losses were recorded daily, the highest since August’s yen carry trade unwind. The total crypto market cap has also taken a hit, losing $1.1 trillion, bringing the total to $2.59 trillion.
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