Bitcoin has plunged 25% from its all-time high

Bitcoin continues to fall during Asian trading, losing more than a quarter of its record high reached less than six weeks ago. The reason for this is traders' withdrawal from bets made after the inauguration of US President Donald Trump.

According to Bloomberg, Bitcoin dropped 5.5% to $79,627 during trading in Singapore, reaching its lowest level since November 10. Ethereum (-7.3%), Solana (-7.1%), and XRP (-7.8%) also saw significant declines.

Bitcoin hit its record of $109,241 on January 20, the day of Trump's inauguration, but has since decreased due to concerns about his policies and the state of the US economy.

Traders are currently waiting for specific steps from Trump regarding cryptocurrencies, including Bitcoin holdings.

Traders are looking for the bottom for Bitcoin's price improvement, with support at the $70,000 level, said Ruslan Lienha from the crypto platform YouHodler, citing technical analysis.

President Trump has already taken several steps that support cryptocurrency, including appointing cryptocurrency advocates to key positions and closing investigations into several crypto companies.