Bitcoin has fallen sharply, extending losses after a turbulent week for the world’s most widely traded cryptocurrency.
The digital currency was down nearly 14 per cent on Friday morning, trading at around $62,900. The decline follows a series of steep losses that began last weekend, when Bitcoin slipped below the $80,000 mark. After the latest drop, Bitcoin, known for its sharp price fluctuations, has lost nearly one-third of its value since the start of the year.
Bitcoin surged after the re-election of United States President Donald Trump fuelled expectations that Washington would introduce a more cryptocurrency-friendly regulatory framework following years of restrictions. The rally pushed the digital currency above $100,000 for the first time in December 2024.
However, the asset has largely remained under pressure since October, when it reached a record high of more than $127,000, amid growing geopolitical and regulatory uncertainty. A Trump-backed bill aimed at regulating digital asset trading has stalled in the US Senate due to disagreements between banking institutions 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 an agreement to invest $500 million for a significant stake in the venture.
Bitcoin’s latest decline comes amid a broad sell-off across global stock and commodity markets. Shares in technology giant Amazon sank more than 11 per cent in after-hours trading after its plans to invest $200 billion in artificial intelligence infrastructure raised concerns about a potential technology bubble.
In the Asia-Pacific region, South Korea’s KOSPI slid around 5 per cent in early trading, while Australia’s ASX 200 and Japan’s Nikkei 225 fell by more than 1 per cent and 1.6 per cent, respectively.
Precious metals, which posted strong gains in 2025, also extended recent losses amid heightened market volatility. Gold fell by more than 4 per cent on Thursday, trading at approximately $4,720 per ounce.
Silver, which has experienced sharper price movements, dropped by as much as 18.5 per cent to trade near $69.
