Recently, the cryptocurrency market has experienced significant losses. As of February 25, 2025, Bitcoin (BTC) has fallen below $90,000, reaching its lowest level since November of last year.
The main reasons for this decline are:
1. Hacker attack on the Bybit exchange: Recently, the largest hack in the history of the cryptocurrency exchange Bybit occurred, resulting in the theft of digital assets worth $1.5 billion.
2. Launch of meme coins related to political figures: Newly elected U.S. President Donald Trump announced the launch of the meme coin $TRUMP, which caused additional instability in the market.
These events have led to a decrease in investor confidence and an overall decline in the cryptocurrency market.
