Bitcoin dips below £70k as amid trillion-dollar crypto crash
Bitcoin has fallen sharply for the second time in as many weeks, wiping more than $1 trillion from the global crypto market and fuelling concerns that the downturn could accelerate further.
The price of the world’s largest cryptocurrency is currently sitting at £69,317 at time of writing, marking a roughly 25% decline over the last six weeks and bringing it back to levels last seen a year ago.
The slump comes just weeks after Bitcoin hit a record high sitting just below £93k in early October, capping a rally that began in late 2024.
This sudden reversal could signal the beginning of a more sustained bear market. Previous Bitcoin cycles have typically seen the asset lose around 75% of its value after reaching a new all-time high.
