"The digital asset fell to around $65,600 on Thursday, its lowest level since November 2024, amid a combination of hawkish signals from the US Federal Reserve, a slowdown in institutional buying and continued delays in crypto regulation. Bitcoin had rallied sharply following Trump's second election victory after he pledged to turn the US into the " crypto capital of the world ", fuelling expectations of lighter regulation and greater political backing for digital assets."
"The cryptocurrency is now down around 30 per cent over the past year, as enthusiasm from both retail and institutional investors has cooled. Analysts say delays to US legislation aimed at creating a clear regulatory framework for digital assets have played a key role in undermining confidence. The so-called Clarity Act, a bipartisan proposal designed to define how cryptocurrencies should be regulated, has been held up by disagreements within the sector and in Congress."
Bitcoin dropped below $70,000 to about $65,600, its lowest level since November 2024, eliminating gains made after Trump's return to the White House. The decline stems from hawkish signals from the US Federal Reserve, a slowdown in institutional buying and ongoing delays in US crypto regulation. The cryptocurrency is down roughly 30% over the past year as retail and institutional enthusiasm cooled. Delays to US legislation, including the stalled Clarity Act, have undermined confidence. The UK plans FCA oversight of cryptoasset firms from 2027, while analysts say regulatory inertia has slowed bitcoin's integration into mainstream portfolios.
Read at Business Matters
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