Topline
The value of Bitcoin fell below $80,000 early on Friday, marking its lowest point since the second week of November. This decline is part of a broader cryptocurrency selloff, which has erased nearly all of the token’s gains following the election, fueled by concerns regarding the economic implications of President Donald Trump’s tariff initiatives.
Bitcoin’s value has decreased by more than 25% from its record high on the day of Trump’s inauguration.
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Key Facts
The price of Bitcoin, the leading cryptocurrency by market capitalization, was recorded at $79,635 early on Friday, having dropped over 7.5% in the last 24 hours.
The token’s value has plummeted more than 27% since reaching an all-time high of $109,114 coinciding with President Donald Trump’s inauguration on January 20.
Bitcoin’s decline is occurring alongside a general crypto market downturn, with Ether—the second most valuable cryptocurrency by market cap—experiencing a nearly 10% drop in the past 24 hours, settling around $2,123.
Tokens associated with Ripple Labs (XRP), Binance (BNB), and Solana (SOL) have also seen significant declines of 9.2%, 7.3%, and 9%, respectively, in the past day.
This is a developing story.
