Bitcoin has plummeted to its lowest point in over three and a half months, driven by a series of negative developments impacting the cryptocurrency markets.
As the largest cryptocurrency by market capitalization, Bitcoin experienced a decline of more than 5% in recent trading, falling to $79,666 and dipping below the $80,000 threshold for the first time since November 11.
This downturn coincides with growing uncertainty surrounding U.S. President Donald Trump’s policies on tariffs and cryptocurrency, compounded by a decline in investor confidence following a hacking incident that affected the cryptocurrency Ether.
According to the German news agency DPA, traders in the cryptocurrency markets are increasingly reluctant to engage in risky investments, especially in light of the lack of concrete measures to fulfill the U.S. President’s commitment to create a strategic reserve of Bitcoin.
A weekly report from CoinShares on digital asset flows revealed that the week ending February 21 saw net outflows amounting to $508 million from digital asset investments, a notable increase from the $415 million in outflows recorded the previous week.
These statistics underscore a growing sense of unease among investors, casting a shadow over the overall cryptocurrency landscape.
