Bitcoin dropped to prices last seen in 2024
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On February 5, Bitcoin's price dropped to $69,231.67, marking a 15-month low. The cryptocurrency has lost over 44% since its peak in October 2021.
On Thursday, Bitcoin’s value fell over 10 percent in a single day, dropping to around $64,000, the lowest it has been since the 2024 Presidential election, as CNBC reports. After crossing $100,000 in November 2024 and peaking at over $122,000 in October 2025, the cryptocurrency has been in a steady decline for the last several weeks.
Investing.com-- Bitcoin slumped nearly 8% on Thursday to hit lows near $70,000 levels, as thinning liquidity and a broad sell-off in global technology stocks triggered renewed pressure on risk assets.
Bitcoin prices have suffered quite a bit lately, and are currently down more than 50% from the record high of roughly $126,300 they reached last Fall.
Bitcoin, as well as other alternative cryptocurrencies, experienced sharp price declines on Thursday and have yet to bounce back just one day later. Bitcoin fell to the lower $84,00 range yesterday and continued to slip into the early morning hours, hitting as low as $81,600.
“Bitcoin looks like it’s going through another ‘crypto winter’ that comes along roughly every four years, and on the previous four occasions saw falls of around 80 per cent before the long-term rising trend resumes,” AMP Chief Economist Shane Oliver told news.com.au on Friday.
Bitcoin has lost nearly half its value since a high last year, intensifying fears about just how vulnerable crypto can be when investors flee risk.
Bitcoin suffered its latest bloodshed on February 4, dropping to almost $72,000 as various factors combined to trigger continued declines in the digital currency.
October and $800 billion lost last month. Bitcoin dropped to $63,295.74, its lowest since October 2024. Crypto losses continue as tech stocks fall and investor sentiment weakens, while market experts warn institutional outflows are driving the ongoing selloff.
The currency’s “store of value” trade is gone. And tech stocks might be taking the hit.