Bitcoin Backers Tout Long-Term Demand Despite 50% Slide From $126,279 Peak
Updated
Updated · CNBC · Jun 20
Bitcoin Backers Tout Long-Term Demand Despite 50% Slide From $126,279 Peak
1 articles · Updated · CNBC · Jun 20
Summary
Bitcoin advocates argued the token’s latest slump has not broken the long-term case, with CoinDesk’s David LaValle calling the current crypto winter a credibility test rather than a threat to its future.
Nearly 50% below its Oct. 6, 2025 record of $126,279, bitcoin slipped almost 2% in the shortened holiday week, briefly topped $65,000 on Monday and then fell back into the $63,000 range by Thursday.
ETF investors have largely held their positions through the selloff, Todd Rosenbluth said, noting BlackRock’s iShares Bitcoin Trust only recently moved into net outflows after much of the year’s decline.
A VettaFi survey of 104 financial advisors in early May found almost half were still watching from the sidelines, while 22% were actively investing or adding exposure to digital assets.
That split view is also hitting major funds: the iShares Bitcoin Trust and Grayscale Bitcoin Trust have both dropped about 40% over the past 52 weeks.