Bitcoin has officially erased its 2025 gains, plunging to $90,000 for the first time in seven months and cementing its entry into a full-blown bear market. After hitting an all-time high of over $126,000 just six weeks ago, the world’s largest crypto asset has tumbled more than 28%, erasing over $600 billion in market value.

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Analysts say this brutal pullback reflects a global retreat from risk. AI stocks, crypto, and other speculative assets have all been hammered as investors grow uneasy over whether the Federal Reserve will deliver a rate cut next month.

Thin liquidity, stemming from the October 10 flash crash, triggered by President Donald Trump’s reignited trade war with China, has

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