Crash wipes out US$1 trillion as bitcoin plunges


The total market capitalisation of cryptocurrencies peaked at about US$4.3 trillion on Oct 6 and now hovers near US$3.2 trillion. — Bloomberg

NEW YORK: The great crypto crash of 2025 entered a new phase, as bitcoin plunged to its lowest level in seven months, extending the more than US$1 trillion wipeout across the digital‑asset world.

The largest cryptocurrency fell to as low as US$88,522 in New York trading, with the latest rout hitting investors big and small – from retail dip‑buyers to digital‑asset treasury firms whose stock premiums are vanishing.

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