surprising fact
The price of bitcoin is now down more than half from its all-time high of $126,186 set in October 2025.
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big number
About $600 billion. That’s how much has been erased from the global crypto market’s aggregate market value since May 10, dropping from a high of $2.7 trillion to $2.1 trillion as of Friday, according to CoinMarketCap. Bitcoin dominates the global crypto market, accounting for roughly 58% of its market value.
tangent
Cardano’s ADA token, once valued as the world’s third-largest cryptocurrency behind bitcoin and ethereum, fell to a six-year low on Wednesday. The token’s latest sell-off followed the cancellation of the Cardano Foundation, a Swiss nonprofit that oversees and promotes development of the Cardano blockchain, which announced it would cancel its flagship summit following a failed community vote.
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key background
A record-setting surge for bitcoin over the last year followed a pro-crypto push from Trump, who said he wanted the U.S. to become the “crypto capital of the world.” The cryptocurrency fell to a post-inauguration low of just over $75,000 by April 2025, but promises of pro-crypto legislation pushed bitcoin above $120,000 by July, rising above $122,000 just days later. That surge came amid major crypto investments by some firms, including Trump Media and Technology Group, which announced it would raise some $2.5 billion to establish a corporate bitcoin reserve. Since hitting a peak in October 2025, bitcoin’s value has deteriorated following waning demand for spot bitcoin ETFs and lower odds of future interest rate cuts.
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further reading
ForbesCardano—Once The Third-Largest Cryptocurrency—Hits 6-Year Low: Here’s WhyBy Ty RoushForbesBitcoin Falls Below $70,000 For The First Time Since AprilBy Siladitya Ray