Bitcoin bashed – TechCentral

Bitcoin fell below US$90 000 for the first time in more than a month, becoming the latest victim of a widening rout in cryptocurrencies.

The coin traded at around $89 000 at 9.25am SAST on Tuesday after hitting its lowest point since 18 November.

The decline came amid a broad selloff in the crypto market. Sentiment has turned bearish following a series of recent setbacks including the biggest-ever crypto hack at Bybit, an exchange, and a memecoin scandal involving Argentina’s president, Javier Milei.

“The Bybit hack was the latest in a string of events, such as questionable memecoin launches, that have brought back unhappy memories for crypto market participants,” said Caroline Mauron, co-founder of Orbit Markets, a provider of liquidity for crypto derivatives.

Read: Surging gold price is leaving bitcoin behind

The recent turmoil in the crypto market is a stark shift from the risk-on rally that drove bitcoin higher following the election of US President Donald Trump. The coin surged following Trump’s election win on 5 November but is slightly down this year-to-date.  — Suvashree Ghosh, with Sidhartha Shukla, (c) 2025 Bloomberg LP

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