Bitcoin Plunges Below $70,000 for the First Time Since August - Sarmad

Bitcoin fell below the $70,000 mark for the first time since last August on Friday, as rising yields on U.S. Treasury bonds reduced the appeal of non-yielding assets.

According to data from the Binance platform, Bitcoin dropped 6.74% to $68,868.39.

The total market capitalization of the cryptocurrency market declined by approximately $80 billion since the start of the day, falling from $2.39 trillion to $2.31 trillion. Meanwhile, Bitcoin’s market capitalization, which accounts for 60% of the market, slipped from $1.435 trillion to $1.375 trillion.

Bitcoin last traded below $70,000 on August 20, before surging sharply to surpass the $87,000 threshold by the end of September 2026.