Other high-flying areas of the market with their own evangelists have also been struggling lately. Bitcoin’s price briefly fell below $90,000 in the morning, down from nearly $125,000 last month. It later recovered some of its losses and climbed back toward $93,000.

Bitcoin has taken a steep tumble, erasing all of its gains for 2025. It comes just weeks after the token surged past the $126,000 mark. And that's despite strong support from Wall Street and favourable political momentum.