Bitcoin Price Hits Lowest Level Since Before Trump's Election Win

The bitcoin price dipped below $60,000, its lowest level since October 2024, before Donald Trump's U.S. presidential election win. Trump's policies, including removing Gary Gensler as SEC head and establishing a strategic bitcoin reserve, were seen as beneficial to the crypto industry. The market has suffered since reaching a new all-time high around $125,000 last October. Bitcoin holders are selling due to increased exposure to the AI industry, with upcoming IPOs and a planned $80 billion capital raise by Alphabet.