SINGAPORE : The world’s largest cryptocurrency has now wiped out all gains made in 2025, raising concerns about broader contagion in the digital asset ecosystem.
Bitcoin slipped 2% in Tuesday’s Asia trading session to $89,953, extending a dramatic decline that began last week when it plunged through key chart support around $98,000. The drop marks a nearly 30% fall from its October peak above $126,000, underscoring growing investor caution amid shifting macroeconomic expectations.
Analysts say doubts over future U.S. interest rate cuts, combined with renewed volatility in global markets following a prolonged rally, have put pressure on risk-sensitive assets.
The downturn has weighed heavily on crypto-linked stocks as well. Companies with large digital asset holdings, such as Strategy, major miners including Riot Platforms and Mara Holdings, and exchange giant Coinbase, have all seen shares slide in tandem with the cooling sentiment.
Bitcoin has plummeted below $90,000, erasing all gains from 2025 and sparking fears of a broader impact on the digital asset market. The cryptocurrency's nearly 30% drop from its October high reflects investor caution amid uncertain U.S. interest rate policies and global market volatility, affecting crypto-linked stocks like Coinbase and major miners.