Bitcoin price falls by 17% in biggest monthly loss since 2022

Today, we will tell you about Bitcoin. Bitcoin price falls by 17% in biggest monthly loss since 2022. Let’s start:

Bitcoin has posted its most significant annual loss of the month since its 20 June 2022 start, putting it into a bear market. The excitement over cryptocurrency after Donald Trump’s win in the presidential election faded after the president’s victory, only to pump it up once more on Sunday.

Bitcoin’s price dropped by 17.5 percent in February, the highest monthly decline since June 2022 and the 11th month with the worst performance in the past decade in a time of skepticism over the financial markets.

The largest cryptocurrency asset in the world closed February at around $84,252 (PS67,010) after hitting the lowest point of three months at $78,273 on the trading floor on Friday.

Bitcoin has fallen more than 20% from its record high of $109,071 in mid-January, placing it in a bearish technical market.

Bitcoin declined amid a rise in market volatility and the fear of a global trade war. Trump has pledged to impose tariffs on imports from Canada, Mexico, and China this week.

Following the upward momentum triggered by market volatility due to the “Trump trade” that fuelled markets following last November’s election, cryptocurrency fell after the stock market slumped. On Wall Street, the US dollar also fell in February.

Dogecoin vs PEPE: Meme Coins Losing Relevance Like NFTs in 2025, DTX Tipped for 200% Listing Gains

Bitcoin prices soared following Donald Trump’s election victory, fueled by speculation that the White House would adopt a more pro-crypto policy and may even establish an investment reserve for Bitcoin.

After the optimism waned during February, Trump renewed it last Sunday, announcing that various digital assets would be incorporated into the Crypto Strategic Reserve.

The mood was also impacted by an attack on the Bybit exchange, where $1.5bn in digital currency was snatched in February.

Susannah Streeter, the head of markets and money at Hargreaves Lansdown, stated that the crypto market continued to be smashed by the negative mood.

“The bears have been prowling around the crypto market, with crypto dropping 20% from its recent peak.”

Streeter said, “Donald Trump’s aggressive trade strategy has raised concerns about investors avoiding higher-risk assets. The massive hack of the Bybit trading platform within Dubai has also shaken investors’ confidence. There are no clear actions from Trump to signal his support for crypto. Skepticism is likely to persist.”

Bitcoin has recovered from its sharp monthly drops in the past. In June 2022, the lowest month, it dropped 41% from $31,700 down to $18,700, and then jumped 26% in the month of July.

The price of cryptos jumped on Sunday following Trump’s declaration of his three names for cryptocurrency that will be incorporated into the newly created US Strategic Reserve.

Trump stated that his executive order on digital assets will result in a stockpile of currency comprising XRP (Ripple), SOL (Solana), and ADA (Cardano), which led to a rise of each of the three. Trump said Bitcoin and Ethereum would remain “at the heart of the Reserve” and would drive Bitcoin to a peak of $94,000.

Read Also