Bitcoin's drop is part of a wider rout in which over $800 billion of nominal value "has been wiped off global cryptocurrency markets in recent weeks, as the enthusiasm that swept the crypto industry after Donald Trump's election victory last year ebbs away," the Financial Times wrote today.

The original cryptocurrency has fallen 28% from its all-time high of $109,000 just last month, tumbling to $78,000 on Friday. The currency’s recent downturn is symptomatic of economic pressures that have been weighing on the crypto and stock markets for the last few weeks,

The rout in Bitcoin worsened during Asian trading hours on Friday, sending it down 25% from the all-time high it set less than six weeks ago as traders reverse bets that followed the election of US President Donald Trump.

A week-long rout in Bitcoin deepened amid the recent broader retreat from risky assets in the wake of US President Donald Trump’s tariff threats and crypto sector turmoil, marking a dramatic reality check for one of the most popular Trump trades.

The price of the world's most valuable cryptocurrency has dropped more than 27% since it hit an all-time high on President Donald Trump’s inauguration day.

Bitcoin dropped below $80,000 in the early hours of Friday, losing more than 25% since its record high on January 20 - President Trump's inauguration - in a dramatic