Bitcoin plummets in value again after week of heavy losses

The world’s most popular cryptocurrency has lost about one-third of its value since the start of the year.Published On 6 Feb 2026Bitcoin has fallen sharply, racking up more losses after a tumultuous week for the world’s most popular cryptocurrency.The digital currency was down nearly 14 percent on Friday morning, hovering at about $62,900 as of 01:00 GMT.Recommended Stories list of 4 itemslist 1 of 4Sri Lanka urge Pakistan to reconsider India boycott at T20 World Cuplist 2 of 4Trump tempers criticism of UK’s Chagos Islands deal after talk with Starmerlist 3 of 4India coal mine blast leaves 18 dead, others feared trappedlist 4 of 4Venezuela passes amnesty bill for political prisoners in first of two votesend of listThe slide continues a run of steep losses that kicked off last weekend, when the digital currency fell below $80,000.After the latest tumble, Bitcoin, which is famed for its dramatic price swings, is down about one-third in value since the start of the year.Bitcoin soared after United States President Donald Trump’s re-election raised expectations that Washington would adopt a crypto-friendly regulatory regime after years of crackdowns, with the digital currency hitting $100,000 for the first time in December 2024.But the digital asset has largely been on a downward spiral since October, when it hit an all-time peak of more than $127,000, amid geopolitical and regulatory uncertainty.A Trump-backed bill to regulate the trade of digital assets has stalled in the US Senate amid divisions between banks and cryptocurrency firms.The Trump family’s cryptocurrency firm, World Liberty Financial, has also come under scrutiny in the US Congress after The Wall Street Journal newspaper reported that representatives of an Abu Dhabi official had signed a deal to invest $500m for a major stake in the venture.Bitcoin’s latest tumble comes amid a heavy sell-off in global stocks and commodities.Wall Street’s benchmark S&P 500 dropped 1.2 percent on Wednesday, while the tech-focused Nasdaq Composite fell about 1.6 percent.