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Bitcoin dived below the $73,000 mark on Tuesday, hitting its lowest price in nearly 16 months.
The world’s oldest cryptocurrency sank as low as $72,884.38, falling more than 6% on the day. That’s its lowest level since Nov. 6, 2024, when the token traded at $68,898.
Bitcoin performance over the past year.
Bitcoin has fallen 16% in the year-to-date as investors have continued to rotate out of risk-on assets amid mounting geopolitical concerns and as the release of crucial U.S. economic data is delayed due to a partial government shutdown.
Strategy, a bitcoin treasury firm, was trading down 9% following the digital asset’s pullback.
