Bitcoin’s recent decline, which has seen the cryptocurrency lose more than half its value since its October 2025 peak, represents a critical moment for evaluating the asset class.

The digital currency recently fell below $60,000, marking its worst performance since the crypto winter of 2022. This downturn arrives during a period when political support for cryptocurrency has arguably reached its zenith, raising pertinent questions about the sector’s long-term sustainability.

The collapse of the FTX exchange in 2022, which resulted in the imprisonment of founder Sam Bankman-Fried for financial fraud, cast a shadow over cryptocurrency legitimacy that has never fully dissipated. When Bitcoin cannot maintain momentum despite…