Bitcoin rose to a record high of $126,251 on October 6. But since then it has been a roller coaster ride and on Sunday it crept down another two percent to below $93,714.
Thus, the rate was lower than at the end of last year and the 30 percent increase in 2025 was relegated to the history books.
Bitcoin and other cryptocurrencies began climbing after Donald Trump's victory in the presidential election last November. His and the government's clearly crypto-friendly policies have since strengthened the rise.
But now, AI concerns and unclear macro-political conditions have caused the general risk appetite in US markets to decrease, Matthew Hougan, chief investment officer at financial advisory firm Bitwise Asset Management, told Bloomberg news agency.
Krypto was the canary in the coal mine for that, and was the first to flinch.
Over the past month, many previously large investors – from exchange-traded funds to corporate players – have quietly withdrawn from cryptocurrencies.
