Major crash in the Bitcoin market

In the past few days, after a decline, Bitcoin’s price stood at $101,822. On Wednesday, following a 3.7% drop, the price fell to $99,010 per Bitcoin, which is approximately 12.1 million Bangladeshi Taka.

Since the beginning of this year, Bitcoin has seen record-breaking gains. Following Donald Trump’s second term as U.S. president, the prices of Bitcoin and several other cryptocurrencies surged. In October, Bitcoin reached $126,186, but since then, the world’s largest cryptocurrency has lost nearly 20% of its value.
 

Market analysts say the recent decline was triggered after top executives on Wall Street hinted at a possible market correction. Investors are moving money out of the crypto and technology sectors, causing the prices of Bitcoin and other digital assets to fall rapidly.

As a result of this drop, most of the gains accumulated over the past few months are nearly erased. The recent momentum driven by institutional investments and artificial intelligence–related technologies has now stalled.
 

The global shift toward safer assets has strengthened the U.S. dollar, which has reached a four-month high against the euro. Meanwhile, U.S. Treasury yields have fallen; the 10-year Treasury yield dropped to 4.087%. The euro fell for the fifth consecutive day to 1.148, its lowest since August 1. The British pound also declined 0.72% to $1.30.
 

The cryptocurrency crash has also impacted the oil market. A stronger dollar has affected commodity prices. U.S. crude oil fell by $0.49 to $60.56 per barrel, while Brent crude dropped $0.45 to $64.44 per barrel.