Bitcoin's dramatic rise once appeared unstoppable. Just eight months ago, the world's largest cryptocurrency reached a record high of $126,000 as investors poured money into digital assets. Expectations of a more crypto-friendly environment in the US helped fuel the rally, pushing Bitcoin above $100,000 for the first time shortly after the 2024 presidential election.
Today, the picture looks different. Bitcoin has fallen to just above $60,000, according to market data cited by CNN. The decline has wiped out more than $1.2 trillion in market value and erased all gains recorded during President Donald Trump's second term. The sell-off has left Bitcoin significantly behind other major assets. While bitcoin has dropped nearly 30% this year, the S&P 500 has gained almost 10% during the same period.
