The Bitcoin rout worsened during Asian trading hours on Friday, when it fell 25% from the all-time high it less than six weeks ago.
This comes as traders reversed their bets following the election of US President Donald Trump, according to a Bloomberg report.
At 9:50 am IST, Bitcoin was down 5.47%, reaching $80,078.76 a coin, as per CoinMarketCap data. Its lowest level was also touched since November 11.
Bitcoin was also not alone in this. The same trend was seen in Ether, Solana, and XRP as well.
Bitcoin, meanwhile, had hit its all-time high of $109,241 on January 20, the day of Trump’s inauguration, as he is pro-crypto.
However, the current tumble comes amid worries of the President’s combative stance and broader concerns about the US economy, according to the Bloomberg report.
