Cryptocurrency bitcoin's value has plunged to below $US70,000, hitting its lowest level since October 2024 and posting a decline of about 20 per cent since the beginning of the year.
The world's oldest and best-known cryptocurrency has lost about 45 per cent since a November peak of more than $US126,000, amid strong demand for the traditional safe havens gold and silver.
Bitcoin fell to a low of $US66,675.12 on Thursday, its weakest since October 2024, a month before Republican Donald Trump won the US presidential election, having signalled his intention to support crypto on the campaign trail.
Thousands of cryptocurrencies have emerged after bitcoin's success.
However, with a market capitalisation of about $US1.4 trillion ($A2 trillion), bitcoin remains by far the dominant digital currency, followed at a considerable distance by ethereum at about $US250 billion and Tether at roughly $US185 billion.
The CoinMarketCap website puts the total value of cryptocurrencies at about $US2.4 trillion, down from $US3 trillion at the start of the year.
with Reuters
