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Some thought that Bitcoin\u2019s nosedive couldn\u2019t 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\u2019s election. That marks a 46% decline since Bitcoin\u2019s all-time high of $126,000 just four months ago, according to Binance.\u00a0<\/p>\n
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\u2019\u00eatre <\/em>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.\u00a0<\/p>\n The plummeting of Bitcoin and these major stocks is the latest sign that cryptocurrencies are not living up to what was supposed to be a golden age under Trump\u2019s second administration. The president adopted a much more crypto-friendly stance than his predecessor. Following his election, the digital asset industry experienced a surge, which now feels more like a sugar rush. The recent decline began on a fateful day in October when traders lost $19 billion in their crypto positions, and Bitcoin has only kept tumbling from there.\u00a0<\/p>\n Crypto was supposed to be a safe haven asset during tough economic times. The tough times have come, but traders have invested elsewhere. Gold, for example, is up 43% in the past six months, as faith in the U.S. dollar weakens\u2014though it too has incurred major setbacks in the last two weeks. Macroeconomic worries stem from stubborn inflation and a weakening job market, among other factors.\u00a0<\/p>\n \u201cPoltical uncertainty, including a high probability of a government shutdown in February and the nomination of a more tightening-oriented Fed Chair, encourages investors to delay returning to risk-on assets,\u201d said Beto Aparicio, senior manager of strategic finance at Offchain Labs.\u00a0<\/p>\n Bitcoin isn\u2019t the only cryptocurrency to suffer losses. Ethereum is down roughly 42% in the last three months to its current price of about $1,970, and Solana has declined 49% during that time to its current price of about $83.\u00a0<\/p>\n Things will only get worse from here, according to traders on prediction markets. On Kalshi, 58% of traders say that Bitcoin will dip below $60,000 at some point in February.\u00a0\u00a0<\/p>\n<\/div>\n #Crypto #market #free #fall #Bitcoin #plunges #shares #Coinbase #Circle #tumble<\/p>\n","protected":false},"excerpt":{"rendered":" Some thought that Bitcoin\u2019s no… <\/p>\n","protected":false},"author":1,"featured_media":19141,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[95,6498,4380,1227,1094,163,228,33,9524,32,9597],"_links":{"self":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/19140"}],"collection":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19140"}],"version-history":[{"count":0,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/19140\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/media\/19141"}],"wp:attachment":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\nJoin us at the Fortune Workplace Innovation Summit <\/strong>May 19\u201320, 2026, in Atlanta. The next era of workplace innovation is here\u2014and the old playbook is being rewritten. At this exclusive, high-energy event, the world\u2019s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.<\/span><\/div>\n<\/div>\n<\/div>\n