The Bitcoin price fell below 70 thousand USD for the first time since early November 2024. According to Coinmarketcap, the cryptocurrency's price was $69,450 as of 5:58 PM ET. The price has fallen by almost 9% in the past 24 hours and by more than 25% over the past month.

The last time Bitcoin traded below 70 thousand USD was in early November 2024, following Donald Trump's victory in the US presidential election.

In 2025, the cryptocurrency repeatedly hit new all-time highs. Its peak was reached in October, when the price reached 126 thousand USD, after which it began to decline.

Analysts surveyed by Bloomberg attribute the decline to a "crisis of confidence" in the market. Investors have begun to doubt Bitcoin's ability to serve as a safe haven amid instability in stock markets, the experts note.

The decline also affected other cryptocurrencies. Ethereum fell by 7,95%, BNB by 9,8%, XRP by 14,2%, and Solana by 7,2%. According to Coinglass, investors sold approximately 722 million USD worth of cryptocurrencies over the past 24 hours. The total cryptocurrency market capitalization fell to 2,3 trillion USD.