Bitcoin price today: Crypto dips under $US70,000 - down 20 per cent in 2026
The value of cryptocurrency bitcoin has again fallen, its decline accelerating amid what analysts view as weakening risk sentiment.
Cryptocurrency Bitcoin’s value has plunged to below $US70,000 ($100,500), hitting its lowest level since October 2024 and posting a decline of about 20 per cent since the beginning of the year.
“A cocktail of uncertainty is dominating the market, made up of monetary policy imponderables, a fear of liquidity shortage and the withdrawal of institutional capital,” analyst Timo Emden of Emden Research said.
The world’s oldest and best-known cryptocurrency has lost about 45 per cent since a November peak of more than $US126,000, amid strong demand for the traditional safe havens gold and silver.
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By continuing you agree to our Terms and Privacy Policy.Bitcoin fell to a low of $US66,675.12 on Thursday, its weakest since October 2024, a month before Republican Donald Trump won the US presidential election, having signalled his intention to support crypto on the campaign trail.
“As before, we are not witnessing a classic crash but a creeping decline in value and appetite for risk,” Emden said.
Thousands of cryptocurrencies have emerged after Bitcoin’s success.
However, with a market capitalisation of about $US1.4 trillion ($A2 trillion), bitcoin remains by far the dominant digital currency, followed at a considerable distance by Ethereum at about $US250 billion and Tether at roughly $US185 billion.
The CoinMarketCap website puts the total value of cryptocurrencies at about $US2.4 trillion, down from $US3 trillion at the start of the year.
with Reuters
