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Author: Admin | 2025-04-28
By Barbara Kollmeyer Bitcoin slid below $90,000 on Tuesday, hitting a level not seen since November, amid a broader struggle for cryptocurrencies this year so far. The No. 1 cryptocurrency (BTCUSD) was down 6.5% to $89,896, around levels not seen since mid-November. Bitcoin's price is down 5.9% year to date, following a 120% surge in 2024. The price of Ethereum (ETHUSD) was down over 8% to $2,407, and is down 28% year to date. Cryptocurrencies got a boost after the 2024 election win by President Trump, who made several promises to enthusiasts, such as establishing a bitcoin reserve. But bitcoin is nearly 12% off an all time high of $106,734 reached Dec. 17. Some have pointed to recent events, such as the $1.4 billion hack of crypto exchange Bybit and a memecoin scandal surrounding Argentina's president Javier Milei, as reasons for continued pressure on bitcoin and other digital assets. Read: This firm has been bullish on crypto for two years - now it's calling a top -Barbara Kollmeyer This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. (END) Dow Jones Newswires 02-25-25 0606ETCopyright (c) 2025 Dow Jones & Company, Inc.
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