Representation of bitcoin shown in an illustration photo taken in Toulouse, France, on March 17, 2025. Pat Batard/Hans Lucas/AFP/Getty Images New York —

Bitcoin is in the red for the year — and investors say more turbulence could be in store.

Just six weeks after notching a record high above $126,000, bitcoin has plummeted more than 28%. The cryptocurrency on Monday dipped below $90,000 for the first time in seven months, extending a slide that has erased all of its gains for this year.

In Wall Street terms, bitcoin is in a bear market — when a price falls more than 20% from a recent peak. Bitcoin has shed more than $600 billion in market value during its tumble, according to CoinMarketCap data.

Investors in recent weeks have increasingly shunned risky assets like AI stocks an

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