Bitcoin tumbles below $70,000, wiping out gains since Trump 2024 win

Representations of cryptocurrency Bitcoin are seen in this illustration taken November 25, 2024. REUTERS/Dado Ruvic/Illustration

SINGAPORE/LONDON, Feb 5 (Reuters) - Bitcoin tumbled through the key $70,000 ‌level on Thursday as a slide in the world's largest cryptocurrency showed no signs of stopping.

Bitcoin fell by as ‌much as 3.8% to a low of $69,858, its weakest since November 2024, when Republican Donald Trump won the U.S. ‌presidential election, having signalled his intention to support crypto on the campaign trail.