Bitcoin price drop sbelow £71k as cryptocurrency investors face stock market ‘decline’
Bitcoin has plunged below the $90,000 USD mark, trading at around $89,381 (£70,598) midday on Tuesday, representing its lowest level since mid-November and a steep decline of nearly 20 per cent from its all-time high.
The world’s most valuable cryptocurrency hit a record $109,114 (£86,191.88) on President Donald Trump’s inauguration day on January 20.
This dramatic fall in value comes amid a broader cryptocurrency market selloff that has gathered momentum in recent hours.
Bitcoin’s value has dropped 7.5 per cent in the past 24 hours alone, marking the most significant crash of Trump’s presidency thus far.
Notably, the decline follows a period that had seen substantial gains linked to Trump’s commitments to cryptocurrency.
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