The price of Bitcoin fell to its lowest level in 16 months despite US president Donald Trump’s personal and public support for cryptocurrency.
A single Bitcoin went as low as $60,000 (£44,000), its lowest level since September 2024, before rallying slightly.
The drop followed months of surging Bitcoin prices, which saw the cryptocurrency hit an all-time high of $122,200 in October 2025.
“Those who bet too big, borrowed too much or assumed prices only go up are now finding out the hard way what real market volatility and risk management look like,” Joshua Chu, co-chair of the Hong Kong Web3 Association told Reuters.
According to the Financial Conduct Authority (FCA), around 8% of UK adults were investing in crypto in 2025 – a drop of 4% from the year before.
But it said the typical amount of money held by individuals had now increased – with one in five holding between £1,000 and £5,000 in the digital currencies.
Among Trump’s first actions upon re-entering the White House in January 2025 was an executive order aimed at making the US the “crypto capital of the planet”.
In his first year back in office, Trump launched a personal brand of cryptocurrency, with the bulk of profits going into his own companies. And he continued his involvement with World Liberty Financial, an investment vehicle for other crypto assets that is owned by the Trump family.
By Anthony Solly
