Bitcoin erases year’s gain as crypto bear market deepens
Portland, Oregon – Just a little more than a month after reaching an all-time high, Bitcoin has erased the more than 30 per cent gain registered since the start of 2025 as the exuberance over the pro-crypto stance of the Trump administration fades.
The dominant cryptocurrency fell below US$93,714 on Nov 16, pushing the price beneath the closing level reached at the end of 2024, when financial markets were rallying following US President Donald Trump’s election victory. Bitcoin soared to a record US$126,251 on Oct 6, only to begin tumbling four days later after unexpected comments on tariffs by Mr Trump sent markets into a tailspin worldwide.
“The general market is risk-off,” said Matthew Hougan, the chief investment officer for…
