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Bitcoin On Tuesday, the stock briefly fell below $73,000, its lowest price in about 16 months.
The world’s oldest cryptocurrency fell more than 6% on the day, dropping to $72,884.38. This is the lowest level since November 6, 2024, when the token traded at $68,898.
Bitcoin was last down more than 3% at $75,658.95 at around 5:25 p.m. ET.
strategy, The Bitcoin treasury company ended trading down more than 4%.
Bitcoin performance over the past year.
Bitcoin has fallen 16% year-to-date as investors continue to exit risk-on assets amid heightened geopolitical concerns. Those losses widened this week as the partial government shutdown delayed the release of key U.S. economic data.
Rob Haddick, general partner at Dragonfly Capital, told CNBC that a glut of liquidation in digital asset markets, as well as uncertainty surrounding lawmakers’ efforts to create legislative guardrails for the cryptocurrency industry, is adding to investor anxiety.
“It appears that the decline in BTC was not caused by a single factor,” Haddick said. “Cryptocurrency and Bitcoin prices are constantly changing, and this market is no exception.”
He noted that the fundamentals of the cryptocurrency market remain strong, especially as stablecoins and tokenized assets continue to attract the attention of retail and institutional investors.
Haddick added: “We expect the medium- to long-term outlook to remain positive as the market continues to reinvent itself.”
