2026.02.0523:36:21UTC+00Bitcoin Tumbles to 17-Month Low

In early February, Bitcoin experienced a significant decline, nearing the $62,000 mark, its lowest point since October 2024. This drop is part of a broader market correction, targeting leveraged traders and contributing to a widespread downturn across financial markets. Currently, the leading cryptocurrency has forfeited approximately half of its value from its October 2025 zenith, effectively nullifying any gains achieved since Trump assumed office and advocated for the cryptocurrency industry. Previously, investor confidence was bolstered by Trump's active engagement with the sector and his commitments to reduce regulations, positioning the US as a potential "crypto capital of the world." This downturn has also affected other cryptocurrencies, related exchange-traded funds (ETFs), and companies with substantial Bitcoin investments, such as Strategy Inc. The recent decline presents a challenge for long-term Bitcoin investors amidst increasing skepticism about the tangible utility of digital assets. Some experts contend that Bitcoin has been revealed as a primarily speculative asset, failing to serve as an effective hedge against currency debasement, unlike gold and other precious metals.