Bitcoin falls again after week of heavy losses

Bitcoin has extended its recent decline, posting fresh losses after a turbulent week for the world’s most widely traded cryptocurrency.

The digital currency was down nearly 14 percent on Friday morning, trading at about $62,900 as of 01:00 GMT.

The drop continues a sharp sell-off that began last weekend, when Bitcoin slipped below $80,000.

Following the latest fall, Bitcoin is now down by roughly one-third since the start of the year, reflecting its reputation for steep and sudden price swings.

Bitcoin surged after United States President Donald Trump’s re-election fuelled hopes that Washington would move towards a more crypto-friendly regulatory environment, with the asset reaching $100,000 for the first time in December 2024.

However, the cryptocurrency has remained under pressure since October, when it climbed to an all-time high of more than $127,000, as geopolitical tensions and regulatory uncertainty weighed on investor sentiment.

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A Trump-backed bill aimed at regulating the trade of digital assets has stalled in the US Senate amid disagreements between banks and cryptocurrency firms.

The Trump family’s cryptocurrency company, World Liberty Financial, has also faced scrutiny in the US Congress after The Wall Street Journal reported that representatives of an Abu Dhabi official had signed a deal to invest $500m for a major stake in the venture.

Bitcoin’s latest slide comes as global markets experience a broad sell-off across stocks and commodities.

Wall Street’s S&P 500 fell 1.2 percent on Wednesday, while the Nasdaq Composite dropped about 1.6 percent.

Amazon shares also sank more than 11 percent in after-hours trading after the company announced plans to invest $200bn in artificial intelligence-related infrastructure, raising concerns about a potential tech bubble.

In Asia Pacific markets, South Korea’s KOSPI plunged about 5 percent in early trading, while Australia’s ASX 200 and Japan’s Nikkei 225 were down more than 1 percent and 1.6 percent, respectively.

Precious metals also extended recent losses after a volatile run marked by major gains earlier in 2025.

Gold fell more than 4 percent on Thursday, trading at about $4,720 an ounce.

Silver dropped as much as 18.5 percent, trading at around $69.

(AlJazeera)