As the cryptocurrency sell-off intensifies, make sure you're making the right choice between buying Bitcoin directly or a Bitcoin exchange-traded fund (ETF).

At previous cycle lows, margin long exposures were held near peak levels as prices bottomed out. This behavior was evident around the FTX collapse in November 2022, the August 2024 "carry-trade" unwind, and most recently during the "tariff tantrum" in April 2025.

Bitcoin is acting weird. The world’s most famous cryptocurrency has tumbled 44% from its October peak, falling below $70,000 Thursday for the first time in 15 months.

Is Bitcoin a bargain below $90,000? Here's what the bulls and bears are saying.

Bitcoin hit its lowest level since the “liberation day” selloff last April.

Michael Saylor backs continued Bitcoin buying during recent price declines. The move reflects a clear stance on long-term value rather than short-term price action. The company’s approach demonstrates discipline amid volatility and highlights a strategy built on accumulation rather than market timing.

Bitcoin is still worth buying, but Shiba Inu isn't.