Financial sector news

The great crypto crash of 2025 has entered a new phase as Bitcoin fell to its lowest level in seven months, continuing the destruction of more than $1 trillion in digital assets.

Bitcoin fell to $88,522 before recovering slightly, with the latest crash hitting large and small investors alike, and the next psychological thresholds lying around $85,000 and $80,000.
The total market capitalization of cryptocurrencies peaked on October 6 at around $4.3 trillion and is now hovering around $3.2 trillion, with much of the change reflecting paper losses rather than actual money leaving hands, Bloomberg notes.

“I think we are closer to the end of the sell-off than the beginning, but markets are volatile and cryptocurrencies may face further declines before finding a base for recovery,” said Matthew Hugan, chief investment officer at Bitwise Asset Management in San Francisco.