Seeing red 🤬

Bitcoin hit its lowest mark in weeks as crypto prices and stocks dove following a double dose of bad news out of the U.S.

Author

Andrew Hayward
August 01, 2025

📝 What you need to know

Bitcoin fell to its lowest price in weeks early Friday following another round of tariff hits from President Trump against trading partners, along with a rough jobs report that included sharp revisions to previous months’ data.

Altcoins are down worse than Bitcoin, with Ethereum and Solana falling 5% compared to a 3% dip for BTC, while stock indices are showing red on the day. And Coinbase stock has taken a dive, down 15% today following Thursday’s earnings miss.

Bitcoin is now nearly 7% away from its all-time high mark hit in July, with CryptoQuant analysts expecting the correction to potentially last months as whales and miners cash out profits. But one analyst told Decrypt that rising optimism for a rate cut at the next Fed meeting could fuel further gains.

“Now that rate cuts are back on the table for the next Fed meeting, liquidity conditions may open up again—a powerful tailwind for risk assets like crypto,” said 21Shares Research Analyst Matt Mena. “If a Fed cut becomes all but guaranteed, Bitcoin could quickly propel toward $125K.”

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