Bitcoin is trading at its lowest level since early 2024, and less than half of its all-time high value last October, as investor interest in the digital asset sours and investors seek out AI-related bets and attention-grabbing IPOs.
The flagship cryptocurrency fell below $60,000 (£45,455) in value on Thursday, considered a key support level for the past two years, trading as low as around $58,000 before recovering.
Digital assets rallied during much of last year, amid optimism that a new US administration would lead to reduced regulation and mainstream institutional acceptance of cryptocurrencies.
Fluctuations
Bitcoin reached an all-time high of over $126,000 on 6 October of last year – more than twice its current value.
