Bitcoin, the world’s largest cryptocurrency, has dropped sharply to around $62,000, marking its lowest price point since October 2024. The decline represents a fall of nearly 14% in a single day, extending a broader downturn that has now erased much of the gains recorded late last year.
Market data shows Bitcoin is down about 45% year-on-year, as investors reassess its role as a store of value and hedge against inflation. The prolonged slide has been underway for over three months, following its peak above $125,000 in October, before a series of sharp corrections rattled the market.
According to reports monitored by Okay News, the sell-off has coincided with renewed weakness in U.S. technology stocks, which has spilled over into digital assets. Ethereum also mirrored the trend, falling by roughly 13% to about $1,863, while the total cryptocurrency market capitalisation dropped to approximately $2.19 trillion.
Analysts say the latest movement once again highlights the volatility of the crypto market, where rapid gains can be followed by steep losses within days. While some investors see the dip as a buying opportunity, others remain cautious amid persistent uncertainty across global financial markets.
