Bitcoin has lost more than 30% of its value since the beginning of the year.

In just over a month after hitting a record high, Bitcoin has lost more than 30% of its accumulated value since the beginning of the year, Bloomberg reported, as investor excitement over the Trump administration's pro-cryptocurrency policies gradually faded.

Bitcoin digital currency. Photo: AFP/TTXVN

According to Bloomberg, on November 16, bitcoin fell below $93,714, lower than the closing level at the end of 2024 - the time when the financial market exploded after President Donald Trump's election victory.

Previously, on October 6, this digital currency had reached a peak of 126,251 USD, but just a few days later, it reversed when Mr. Trump suddenly spoke about tariffs, causing the global market to shake strongly. After that fluctuation, Bitcoin gradually narrowed its decline and fluctuated around the threshold of 94,869 USD at 8:39 am on November 17 in Singapore.

Bitcoin, which accounts for nearly 60% of the total cryptocurrency market value of about $3.2 trillion, has been volatile this year, according to Bloomberg. The price of the coin fell to $74,400 in April 2025 when Mr. Trump announced the tariffs, then set a new high before falling again. The recent decline was triggered by the surprise tariff announcement on October 10, which triggered record forced sell-offs.

Matthew Hougan, chief investment officer at Bitwise Asset Management, said the market is in a risk-off state and Bitcoin is very responsive to this volatility.

The sell-off was driven by profit-taking by long-term investors, institutional outflows, a volatile macro environment, and margin liquidations, said Jake Kennis, senior analyst at Nansen. He sees the market as temporarily falling after a period of rising or sideways movement.

According to Bloomberg, bitcoin and the cryptocurrency market are still struggling to recover. Expert Chris Weston, Head of Research at Pepperstone Group, said that the damaged market sentiment has made large investors cautious, and it needs more time and a steady uptrend to return.

The decline has been even steeper for smaller, less-traded cryptocurrencies, which are favored for their high volatility and often outperform during bull runs. The MarketVector Index, which tracks the bottom half of the top 100 cryptocurrencies, has fallen about 60% since the start of the year, Bloomberg said.

Source: https://baotintuc.vn/thi-truong-tien-te/bitcoin-giam-hon-30-gia-tri-tu-dau-nam-20251117121533985.htm