Crypto news live - Bitcoin price crashes below £71,000 amid market uncertainty

Cryptocurrencies have seen precipitous drops in their valuation amid a bout of controversies.
While crypto is no stranger to market instability, this latest drop is value is more notable than most. Bitcoin has dropped to its lowest price since November 2024, dipping below £71,000, as has Ethereum.
This represents a 16.5% drop in Bitcoin compared to its one-month high valuation in late January. It represents hundreds of billions of dollars in lost value.
Why? There are several stories likely to have contributed to this short-term loss of confidence in crypto.
The first concerns a hack of one of the largest crypto exchanges, while uncertainty over how the plans of Trump and Musk in the U.S. will affect investors is also expected to have taken its toll.
We’re going to take a deeper look into the events behind this sudden drop amid what crypto investors hope is the beginnings of the recovery on February 25.
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