I was just looking at the charts and noticed that the cryptocurrency drop last week simply wiped out all positive momentum. Bitcoin suddenly fell to 58 thousand last night after being above 63 thousand in the morning. On the futures market, more than 85 thousand positions were closed at a loss of about 300 million. The total crypto market capitalization fell by 170 billion.

What’s interesting is that this cryptocurrency decline happened after positive comments from Fed Chair Powell last week. It seemed like everything should have been heading upward, but the market reversed in the opposite direction. One Bloomberg analyst noted a curious pattern—the movement of Bitcoin over the past few months (fluctuations between 50 and 70 thousand) resembles the 2019–2020 period, when the price was in the 7–10 thousand range. It’s not certain that history will repeat itself, but the parallel is intriguing.

Altcoins were hit even harder. WIF dropped by 12%, ENS by 10.5%, JUP by 10%. All of this suggests that the cryptocurrency decline affected the entire market as a whole. The market is now searching for a bottom, and investors are getting nervous. However, if you look at history, such pullbacks are normal. The only question is when the recovery will begin and whether it will be as fast as the growth before it.