Crypto prices fell sharply this week as the market moved closer to the one-year anniversary of the Oct. 10, 2025 flash crash.
CoinDesk reported that what began as a modest decline in bitcoin on Thursday turned into a faster sell-off, pushing BTC down to just above $80,000, around a one-month low. Bitcoin was down 4% over the past 24 hours, and more than 8% below the level it nearly reached four days ago, when it came close to $87,000.
The broader market was hit harder. Ether and XRP each fell about 6% over the past day, while solana dropped 9%. CoinDesk said all three have posted double-digit losses over the last week.
The anniversary of the 2025 flash crash is back in focus
The latest slide comes just ahead of Saturday’s first anniversary of the Oct. 10, 2025 flash crash. CoinDesk noted that only days before that event, bitcoin had set a euphoric record above $126,000. It then tumbled from about $122,000 to $105,000, and on some exchanges moved even lower. Much of that decline happened within minutes during thin Friday evening trading in the U.S.
That backdrop is now returning to the market’s attention as traders face another bout of fast selling.
Oil, rates and Washington uncertainty add pressure
CoinDesk also pointed to several other pressures weighing on crypto assets. Continued gains in oil prices and interest rates were described as negative catalysts that could pull money away from risk assets such as bitcoin.
The report added that regulatory uncertainty has persisted after the failure of the Clarity Act. At the same time, the upcoming U.S. midterm elections could alter the balance of power in Washington, D.C.
Some institutions still see stronger long-term adoption
Even with the latest sell-off and several short-term pain points, some institutional investors appear more confident about the longer-term outlook for digital assets.
A State Street survey published Tuesday covered 300 asset managers, asset owners and wealth managers. About 51% of respondents said they expect digital assets to become mainstream within the next five years, up from 11% in 2024.
The same survey found that institutions currently hold an average of 11% of their portfolios in digital assets. That share is expected to rise over the next three years, a sign of continued adoption even as prices have not managed to break higher.