Amid intensifying selling activity in the cryptocurrency sector, Bitcoin has plunged to its lowest point in over a year.
The premier digital currency dropped to $73,500, marking its weakest level since the US presidential election that brought Donald Trump to power.
Ethereum (ETH) experienced a 6.5% decline, settling near $2,200. Meanwhile, Solana (SOL) decreased by 5.5%, slipping below the $100 mark and hovering around $97.
This downturn in crypto prices reflects broader sell-offs seen across technology and financial markets. Concerns about liquidity and uncertain macroeconomic conditions have accelerated investors’ retreat from high-risk assets.
The market slide intensified after BlackRock’s private equity arm, BlackRock TCP Capital (TCPC), revealed on Friday, January 23rd that it would reduce its net asset value by 19%. This announcement raised alarms about potential weaknesses in economic fundamentals and tighter liquidity than previously expected.
Major institutional portfolios were not spared from losses either. Tom Lee’s Ethereum-focused portfolio managed via Bitmine suffered significant setbacks with unrealized losses surpassing $7.23 billion out of an initial investment valued at $16.39 billion — now down to approximately $9.15 billion overall this year alone losing more than $3.54 billion so far.
Meanwhile, Michael Saylor’s company Strategy holds one of the largest Bitcoin reserves globally — totaling 713,502 BTC worth roughly $52.87 billion at purchase prices averaging around $76,052 each coin; however currently facing an estimated loss near 2.5% or close to $1.39 billion due to recent price drops.
Please note: This content does not constitute financial advice or recommendations for investment decisions.