Bitcoin slides below $90,000 as crypto selloff gathers steam [View all]
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.
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