The price of Bitcoin fell to its lowest level in 16 months despite US president Donald Trump's personal and public support for cryptocurrency.
A single Bitcoin went as low as $60,000 (£44,000), its lowest level since September 2024, before rallying slightly.
The drop followed months of surging Bitcoin prices, which saw the cryptocurrency hit an all-time high of $122,200 in October 2025.
"Those who bet too big, borrowed too much or assumed prices only go up are now finding out the hard way what real market volatility and risk management look like," Joshua Chu, co-chair of the Hong Kong Web3 Association told Reuters.#btc
Ledn raises $188m with first bitcoin backed bond sale in asset backed market Crypto lender packages more than 5,400 bitcoin collateralized loans into first asset backed securities transaction of its kind.
Ledn sold $188m of bonds backed by 5,400 bitcoin collateralized consumer loans, with an investment grade tranche priced at +335 basis points. Automated liquidation of bitcoin collateral helped shield asset backed security investors even as the token fell
Ledn, a crypto lending company, has completed the first asset-backed securities (ABS) deal backed by bitcoin collateral, raising $188 million for crypto credit markets.
Asset-backed securities are bonds backed by pools of underlying loans, with investors receiving payments from the cash flows generated by those loans.#btc #eth