Bitcoin Hits 2026 Low Under $73K But Analyst Says It’s Normal

Bitcoin (BTC) tumbled to a new 2026 low of $72,945 on Tuesday after bulls failed to defend the $73,000 level, extending a broader risk-off move across crypto markets. Year-to-date, Bitcoin trades at a 15% loss and remains nearly 45% down from its $126,267 all-time high, raising investor concerns that BTC’s cyclical bull market may have reached an end.  

Rocky price action in US stock markets is widely seen as a key driver of the sell-off across crypto. Since the end of Q4 2025, investors have questioned whether the costs tied to artificial intelligence infrastructure build-outs — alongside lofty fundraising rounds and valuations — are sustainable.

Investors fear that product demand and revenue may fall short of industry projections, and this souring sentiment is visible across the Magnificent 7 stocks, along with the S&P 500, Dow and NASDAQ, which are currently trading down 0.70% to 1.77%.

AI majors Nvidia and Microsoft lost a respective 3.4% and 2.7% during the trading day, while Amazon nursed a 2.7% loss. More than 100 S&P 500 companies are set to report their earnings this week, so the current early-week volatility may simply be a manifestation of investors’ anxiety or a hint of what’s to come once earnings data is posted. 

Within the crypto market, liquidations of leveraged positions are adding pressure to the pace of selling, with BTC longs seeing $127.25 million forced closed and ETH longs locking in $159.1 million in liquidations.  

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While many analysts have suggested that Bitcoin is trading at a deep discount, apparent dip-buying from retail investors and institutional investors like Strategy has done little to stem the selling. According to Joe Burnett, Strive’s vice president of Bitcoin strategy, BTC’s current “price action is still sitting within historical norms at $74,000.” 

Burnett explained that the “45% Bitcoin drawdown aligns closely with historical volatility,” and added that the “volatility of this magnitude remains a symptom of a rapidly monetizing asset.” 

If the selling were to continue, current Bitcoin (BTC/USDT, Binance) order book data from TRDR.io shows bids thickening from $71,800 to $63,000. Whether traders step in to buy within that range is the real question, and it’s likely that non-crypto-specific macroeconomic and stock market-connected outcomes will continue to be the most impactful driver of Bitcoin’s price.