Bitcoin briefly slumped below $72,000, a level last seen 15 months ago, as a broad risk-off move engulfed global markets.

Bitcoin sank as low as $72,096.20 on Wednesday, marking its second consecutive day breaking below the $73,000 level.

Bitcoin suffered its latest bloodshed on February 4, dropping to almost $72,000 as various factors combined to trigger continued declines in the digital currency.

Bitcoin ( BTC-USD) fell 2% on Wednesday to around $73,000 per token after Treasury Secretary Scott Bessent suggested the US government would not bail out the cryptocurrency. In a heated back-and-forth during a House Financial Services Committee hearing, Bessent was asked if the US Treasury had the authority to buy bitcoin or other cryptos.

Although bitcoin was setting a new all-time high around $125,000 as recently as October, the price of the world’s largest and most popular crypto asset is now down roughly 40% since those good times,

Bitcoin prices dropped to less than $75,000 on Sunday, February 1, reaching their lowest point since April 2025 as multiple variables combined to fuel losses.

Bitcoin has pushed deeper into bear market territory amid its latest sell-off, with the crypto down 37% from its October all-time high.