Bitcoin's price plummeted to its lowest level since before Donald Trump's election, dipping below $64,000, as the cryptocurrency market entered a period of decline, according to multiple reports. The drop, which began months ago, has seen Bitcoin lose nearly 50 percent of its value since its peak in October 2025.
The downturn, often referred to as a "crypto winter," has affected other major cryptocurrencies as well. Ether and Solana have both decreased by over 30 percent in the past week, according to the NY Times. The stock prices of major crypto firms have also fallen, with one company that buys Bitcoin seeing a 75 percent drop.
The decline comes despite Trump's public support for cryptocurrency. According to BBC Technology, a single Bitcoin fell to as low as $60,000 before slightly recovering. Investors were initially encouraged by Trump's involvement in the sector, but the market has since soured.
"Those who bet too big, borrowed too much or assumed prices only go up are now finding out the hard way what real market volatility and risk management look like," Joshua Chu, co-chair of the Hong Kong Web3 Association, told Reuters.
In other news, former US President Donald Trump endorsed Japan's Prime Minister Sanae Takaichi ahead of a snap election in her country on Sunday, according to BBC World. Trump praised Takaichi as a "strong, powerful, and wise leader" in a Truth Social post.
Meanwhile, in a separate development, the jewelry company Pandora announced it would switch from using silver to platinum in some of its ranges due to a dramatic increase in silver prices, according to BBC World. Silver prices have more than doubled over the past year.
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