Crypto crash accelerates as investors flee risky assets
Bitcoin’s plunge accelerated on Thursday, as the world’s largest cryptocurrency fell to around $67,000 in morning trading, a level not seen since October 2024. The moves underscore how vulnerable cryptocurrencies can be when investors turn away from risk.
The sharp drop was a reversal from late last year, when bitcoin surged to record highs above $125,000 a coin. In the four months since then, the digital currency has lost nearly half its value.
The selling comes as investors pull back from riskier assets like crypto and tech stocks, and rotate into traditional “safe haven” assets like gold.
Since bitcoin’s October peak, the gap between its performance and gold’s has widened significantly. As of Thursday morning, the value of…
