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Bitcoin dropped below $85,000 for the first time since November 2024

Cryptocurrency
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Bitcoin dropped below $85,000 for the first time since November 2024
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On Wednesday, the cost of bitcoin dropped by almost 4%, dropping below $85,000 for the first time since November last year. According to trading data, on Binance, the largest crypto exchange, the price of bitcoin fell by 3.7% per day by 21:53 Moscow time, reaching $ 83,925.

According to the CoinMarketCap portal, which calculates the average price based on data from more than 20 exchanges, bitcoin fell by 3.48%, dropping to $ 84,070.63.

Recall that at the end of January 2024, bitcoin reached a historic high of $109,588. Since then, its value has decreased by more than 20%. Experts attribute this drop to several factors, including the policies of US President Donald Trump, concerns about inflation, and the recent hacking of the Bybit crypto exchange.

"Tariff policy is dampening the outlook, and high short—term inflation expectations are increasing investor caution," said Chris Newhouse, director of research at Cumberland Labs.

Thus, the current situation in the cryptocurrency market remains tense, and further price dynamics will depend on macroeconomic factors and regulatory actions.

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