Bitcoin had surged to a record $126,251 on October 6
Bitcoin fell below $93,714 on Sunday, wiping out more than 30% of its gain for the year and slipping beneath 2024’s closing level.
The drop comes as enthusiasm over the Trump administration’s pro-crypto stance fades and a broader selloff in high-flying tech stocks drags the markets lower.
Bitcoin had surged to a record $126,251 on October 6 before President Donald Trump’s unexpected tariff remarks triggered a global market shakeout.
Institutional support crucial to Bitcoin’s rally has thinned. ETFs that absorbed over $25 billion this year and pushed assets to about $169 billion are now seeing outflows, while major buyers from corporate treasuries to fund allocators have paused their purchases.
Sentiment across crypto remains weak, with smaller tokens suffering sharper declines.