Bitcoin Crashes—Is the Hype Finally Over?

Bitcoin took a sharp dive today, dropping over 5% in just a few hours and slipping below the $115,000 mark. Analysts point to a mix of factors, including a stronger-than-expected U.S. jobs report that boosted the dollar and renewed fears of a hawkish Fed. Meanwhile, large on-chain movements from long-dormant wallets raised concerns of potential sell-offs, adding fuel to the fire.

This sudden correction also reflects investor anxiety after weeks of tight price consolidation. With open interest in BTC futures hitting record highs, the market may be unwinding some over-leveraged positions. Still, many believe this is just a healthy reset before the next leg up—but in crypto, confidence can vanish faster than it came.