Bitcoin slides below $90,000 as crypto selloff gathers steam

[modrepub]

Tue, February 25, 2025, 3:50 AM EST

(Bloomberg) — Bitcoin (BTC-USD) tumbled below $90,000 to hit the lowest since mid-November, as the rally that followed Donald Trump’s election to the White House reverses under the weight of his trade tariffs and a string of industry setbacks.

Bitcoin dropped as much as 6.1% to its lowest point since Nov. 15 before recovering slightly to trade at $89,700 at 8:50 a.m. London on Tuesday after hitting its lowest point since Nov. 18. Other cryptocurrencies also fell, with Ether, XRP and Solana (SOL-USD) down sharply for the session.

The recent turmoil in digital assets is a stark shift from the risk-on rally that drove crypto markets higher following Trump’s election in early November. Bitcoin has tumbled almost 20% since his January inauguration, as Trump’s combative stance against allies and geopolitical rivals alike shakes investor confidence, and concerns about elevated inflation linger.

https://finance.yahoo.com/news/bitcoin-slides-below-90-000-072831007.html

Bitcoin Trade as of posting: $87,948.75 -$7,509.74 (-7.87%)


Additional tidbits from article that caught my eye and wanted to share:

The Bybit hack, in particular, has added to fears about the safety of digital-asset platforms. Hackers which analysts say are linked to North Korea made off with about $1.5 billion of Ether in last week’s attack and have started quickly laundering the haul. Several researchers say the heist revealed a rising level of sophistication among North Korea’s army of hackers.

Memecoins launched by Trump and his wife Melania just before the inauguration have also performed poorly, undermining confidence in his pro-crypto policies. The Trump token has tumbled more than 80% since peaking almost immediately after he launched it, based on CoinGecko data.

[no_hypocrisy]

1. I want crypto to crash and bottom out ASAP and stay there

in order to prevent TSF from transferring U.S. currency and/or gold into a stealth currency.

Then again, his argument would be that it's a great time to buy crypto with its low valuation; it will only increase as time passes.

[JohnSJ]

8. It will eventually because it is based on the greater fool theory, and it would be absolutely insane for the US

to legitimize it.

[C_U_L8R]

2. And Trump wants to flip our Treasury to crypto?

Well you gotta give it to Trump, he sure knows how to bankrupt things.

[surfered]

3. This is why it's not a currency, but a speculative asset, like tulips we're at one time.

[Lovie777]

4. North Korea stole the 1.5 billion crypto............

ya know, shithole's buddies.

[Hugin]

5. Our new allies...

Since yesterday.

My Korean conflict associates are inconsolable. Fury, I have never seen before.

[hatrack]

6. Can't decide which should die first - cryptocurrency or AI . . .

Crypto, I guess - there are some applications for AI in medical research and engineering.

[Hugin]

7. Good call.

The mystique surrounding AI in the Dunning-Kruger decision makers set thinking that a chatbot is all powerful can’t go away fast enough. That’s all financed through crapto.

[JohnSJ]

9. AI won't die, regardless of the dangerous it poses, because our adversaries will pursue it regardless.

crypto on the other hand is based on nothing but the greater fool theory.