Bitcoin (BTC) price plunges below $80,000, marking its lowest point since early November

A chill swept through the virtual corridors of the cryptocurrency world as Bitcoin, the heavyweight champion of digital currency, nosedived below the $80000 mark

The cryptocurrency market saw a chill set in on Friday as Bitcoin, the flagship token, slipped below the crucial $80,000 mark. This marks its lowest point since early November, with investors clinging on as the cryptocurrency slid over 8.5% in the past 24 hours.

While Bitcoin dipped to $78,949, losing nearly 20% over the past week—undoing most of the post-election gains—it’s part of a broader selloff in the crypto market. Ether, the second-largest token, also saw steep losses, sliding more than 11% to trade around $2,100.

Other digital assets like Ripple’s XRP, Binance’s BNB, and Solana’s SOL also saw significant declines, painting a bleak picture of the crypto market.

This downturn comes amid concerns over President Donald Trump’s tariff policies, which could impact the economy and leave investors seeking safe havens in the wake of recent economic signals and asset valuation turbulence.

Among the meme coins, Donald Trump’s $TRUMP coin also saw a steep decline after reaching its zenith shortly after its inauguration day launch. The token has since lost 85% of its peak value.

These speculative ventures follow the recent fates of Argentina’s $LIBRA and the Central African Republic’s CAR token, all of which rose and crashed spectacularly.

The rapid ascent and fall of these digital tokens highlight the dangers of speculative bubbles and the volatile nature of hype-driven investments. As the dust settles around Bitcoin and its peers, a crucial takeaway emerges: In the virtual realm of cryptocurrency, fortunes can change as quickly as livelihoods, urging investors to proceed with caution and astute foresight.