United News of Bangladesh

Bitcoin prices have dropped to their lowest level in about 16 months, despite strong public support for cryptocurrency from US President Donald Trump. At one point, Bitcoin fell to around $60,000, the lowest since September 2024, before recovering slightly. The fall came after a long rally that pushed the digital currency to a record high of $122,200 in October 2025. Joshua Chu, co-chair of the Hong Kong Web3 Association, said Reuters that investors who took big risks are now facing the reality of market ups and downs. He said the current situation is a reminder of how important risk management is in volatile markets. Bitcoin had gained strong momentum over the past year, helped by Trump’s vocal backing of crypto and his promise to ease regulations on the sector. However, after Thursday’s drop, Bitcoin is now down about 32% over the past 12 months and is moving closer to price levels seen in early 2024 and 2021. Bitcoin is the world’s largest and most well-known cryptocurrency. It is a form of digital money that is not controlled by any central bank or government. Bitcoin surges past $118,000 for first time as Crypto momentum grows According to the UK’s Financial Conduct Authority (FCA), about 8% of UK adults invested in crypto in 2025, down from the previous year. However, the average amount invested has increased, with many people now holding between £1,000 and £5,000 worth of digital assets. After returning to the White House in January 2025, Trump signed an executive order aiming to make the US the world’s leading hub for cryptocurrency. He also launched his own crypto-related business ventures and continued involvement in family-owned crypto investment firms. During his current term, the Trump administration has taken several pro-crypto steps, including reducing regulatory enforcement. Democrats, however, have criticised his approach, saying Trump has personally gained billions of dollars from crypto holdings and transactions. Bitcoin briefly slips below $85,000 amid broad crypto downturn Analysts say Bitcoin’s latest fall may be linked to Trump’s nomination of Kevin Warsh as the new head of the US Federal Reserve. Some investors expect tighter monetary policy, which usually puts pressure on assets like cryptocurrencies. Deutsche Bank said Bitcoin has been falling for four months, with growing negative sentiment as traditional investors lose interest. While the bank does not expect crypto to disappear, it also does not see a quick return to past highs. Other major cryptocurrencies, including Ethereum and Solana, have also fallen by about 37% so far this year. CoinGecko reports that the overall crypto market has lost more than $2 trillion in value since peaking in October.   With inputs from BBC.