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Bitcoin tumbles below $70K, heavy losses in cryptocurrencies in last three weeks
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Overview
Bitcoin fell below $61,000, marking a decline that has erased all gains since Donald Trump's election. The cryptocurrency dropped as much as 4.8% to $60,033, reaching its lowest value since October 2024 amid increased market turbulence and unwinding of leveraged bets.
Summary from bloomberg.com.
Report summaries: 1 not verified.
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Community reactions
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Hacker News · bloomberg.com
Historical count: 5 · 5 saved in sample · Historical sample
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Based on 5 sampled comments from this thread. Analyzed 2026-02-09.
- Praise: Historically, Bitcoin has shown resilience, dropping significantly only to recover and surpass previous highs, indicating potential for future rebounds.
- Concern: The belief that Bitcoin serves as a reliable store of value has been shattered, especially as it falls while real gold rises, highlighting its volatility and market manipulation concerns.
- Concern: The significant drop in Bitcoin's value over the past months raises questions about its long-term viability and the impact of institutional adoption on its stability.
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