Business Desk 
Mar 14, 2025
An undated image of Bitcoin. — iStock
In what appears to be the expiry of crypto fever, which began running high after US President Donald Trump held office on January 20, Bitcoin dropped to around $80,000 on Friday.
Currently, Bitcoin has lost nearly a quarter of what it gained within a few days following the establishment of the new US administration.
Bitcoin's plunge comes as a discouraging outlook to the spate of newcomers who rushed to slice their share from the consistently rising Bitcoin value earlier in January.
Citing crypto data and analytics firm Glassnode, Reuters reported that a minimum of 20 million new Bitcoin addresses, accounting for around 1.5% of all Bitcoin addresses in the world, were created over the three months.
Bitcoin's spent output ratio, referring to the ratio between the prices at which new Bitcoin is being bought and sold, has also fallen to 0.95, the lowest level in over a year.
"This suggests that recent buyers are locking in significant losses, reinforcing the exceptionally challenging conditions for newer investors," analysts at Bitfinex said.
It's worth noting that Bitcoin touched its all-time high of $109,071 in January 2025, now letting go all the gains owing to the US' new tariff policy introduced by Trump.
