Bitcoin fell to its lowest level since US President Donald Trump’s second term began.
The cryptocurrency is trading around $65,000, from an October peak above $126,000. The other biggest cryptocoins and the stock prices of crypto firms are also down.
It is “one of the worst crises in the crypto industry” since the FTX fraud of 2022, The New York Times reported. Trump had promised to make the US “the crypto capital of the planet,” but a wider market selloff has hit crypto as well as traditional stocks.
The slide may continue: The market “is now in full capitulation mode,” one analyst told Forbes, and falling below the psychologically important $70,000 threshold could trigger further sales.
