Bitcoin crash news


Market Crash & Sell-off: Bitcoin has been hit by one of its steepest downturns in years. A broader crypto market rout led by BTC accelerated this week, erasing nearly $500 billion in market value as investors pulled back from risk assets amid shaky sentiment across global financial markets. This sell-off has also slammed technology stocks, reinforcing the risk-off mood.

Price action reflects the turmoil: Bitcoin dipped below $70,000, continuing a slide from its October 2025 all-time high of around $126,000. Treasury Secretary Scott Bessent’s comments that the U.S. government would not compel banks to support crypto further pressured prices.

Government & Reserve Losses: In a striking development, the U.S. Bitcoin Reserve — created under a 2025 executive order — saw its value fall significantly. Holdings initially valued at about $18.5 billion have shrunk by nearly $4.7 billion due to the market downturn, igniting debates on the strategy’s effectiveness amid volatility.

Industry Impact: The Bitcoin slump is forcing structural shifts in the crypto ecosystem. Major exchange Gemini announced a 25% reduction in its workforce and withdrawal from several international markets as it refocuses on core operations due to declining trading volumes and revenue challenges.

Risks & Scams Remain High: Beyond markets, fraudsters are exploiting crypto volatility. A recent case in Bengaluru saw an individual lose Rs 70 lakh in a Bitcoin investment scam after engaging with a fraudster over Telegram — a reminder of rising online risks.

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