By Vicky Ge Huang
Bitcoin fell below $73,000 on Wednesday, extending a decline that has dragged the world's largest cryptocurrency down 16% this year.
Bitcoin fell as low as $72,102, effectively erasing all gains made since crypto-friendly President Trump's election in Nov. 2024. It recently traded at $73,868, down more than 40% from an early-October peak above $126,000.
Ether, the second-largest cryptocurrency, hit a nine-month low of $2,077 before paring losses. The token recently hovered around $2,146 and is now nearly 57% off last summer's all-time high of $4,955.
The rapid declines in major cryptocurrencies has weighed on crypto treasury stocks that sold shares and borrowed money to stockpile digital currencies. Shares of Michael Saylor's bitcoin-accumulation firm Strategy fell 5.6% Wednesday. BitMine Immersion Technologies, an ether-treasury firm run by Wall Street strategist Tom Lee, sank 9%.
Investors and analysts say the crypto price declines correlate with a broader risk-off sentiment in the market, catalyzed by macroeconomic and geopolitical uncertainty. The downturn is being compounded by thinning liquidity and a marked slowdown in institutional demand for digital assets.
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(END) Dow Jones Newswires
February 04, 2026 14:28 ET (19:28 GMT)
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