Some thought that Bitcoin’s nosedive couldn’t get any worse. They were wrong. The original cryptocurrency dipped to under $68,000, its lowest level since October 2024, just before President Donald Trump’s election. That marks a 46% decline since Bitcoin’s all-time high of $126,000 just four months ago, according to Binance.
Major crypto companies are being dragged down with it. Coinbase, the largest cryptocurrency exchange in the U.S., has seen its stock decline by 50% in the last three months and is currently trading around $151. The stock price of Strategy, a company whose raison d’être is to buy and hold Bitcoin, is also down 54% during that time. Meanwhile, the shares of stablecoin giant Circle, which traded as high as $263 following its IPO last June, are now trading at $52.
