Beautiful Virgin Islands

Friday, Jul 25, 2025

Bitcoin falls as much as 13% Sunday, extending losses from brutal week

Bitcoin falls as much as 13% Sunday, extending losses from brutal week

Bitcoin prices fell as much as 13% on Sunday, extending losses from a gut-wrenching week for cryptocurrencies.
Bitcoin, which accounts for more than 45% of the global crypto market, was trading around $33,000 per coin Sunday morning eastern time — far off its all time high above 64,000 just over a month ago.

By Sunday evening, Bitcoin had recouped some of its losses. It was trading at above $35,000, according to Coindesk.

Tesla CEO Elon Musk, whose tweets regularly influence the crypto market, on Saturday underscored his support for digital currencies, giving bitcoin a slight boost after a very rocky week. "The true battle is between fiat & crypto. On balance, I support the latter," Musk wrote Saturday morning. Bitcoin inched up above $38,000 but by Saturday night began falling again.

Other cryptocurrencies also fell over the weekend. Ethereum was down 20% Sunday morning, trading around $1,900. Dogecoin fell 16% and binance coin was down 26%. (Cryptocurrency markets stay open 24 hours a day, seven days a week.)

On Wednesday, a broad crypto crash wiped out about $1 trillion in market value. The selloff began after Chinese authorities announced further restrictions on cryptocurrency transactions within its borders.

Statements from Beijing spooked an already jittery crypto market, and bitcoin plunged 30% to $30,000, its lowest point since January. Ethereum fell more than 40%, and dogecoin and binance lost around 30%.

US regulators also hinted at restrictions, with the Treasury Department announcing that any transfer of digital currency valued at $10,000 or more must be reported to the Internal Revenue Service.

This kind of volatility in the crypto sector isn't new but as the digital coins become more mainstream, their swings are attracting more scrutiny among investors and corporate America.

The recent stretch of losses began on May 12, when Musk did a U-turn on Tesla's commitment to accept bitcoin payments, citing environmental concerns.
Even with the past week's losses, bitcoin is still up more than 250% over the past year.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Jeff Bezos Considers Purchasing Condé Nast as a Wedding Gift
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
Google Secures Windsurf AI Coding Team in $2.4 Billion Licence Deal
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
×