Shares of Strategy, Michael Saylor’s bitcoin-stockpiling company, have fallen sharply since crypto prices touched their all-time highs in October.

Bitcoin tumbled below $61,000, as the unwinding of leveraged bets and broader market turbulence deepened a selloff that has wiped out all of the gains since President Donald Trump’s election set off a speculative rush into cryptocurrencies.

The price of bitcoin continued its monthslong slide Thursday, falling another 11% to $67,000, its lowest level in 15 months

Treasury secretary Scott Bessent said he doesn’t have the power to bail out Bitcoin. During a House Financial Services Committee hearing yesterday, Treasury Secretary Scott Bessent said he could not ask that banks prop up Bitcoin in the case of a crash. Crypto investors are responsible for their own risk.

Cathie Wood doubles down on crypto stocks as markets turn red.

By Hannah Lang Feb 5 (Reuters) - Turbulence in the cryptocurrency market is dragging down shares of companies that hold bitcoin and other digital assets on their balance sheets, sparking concerns over potential broader strains in the sector.

In the worst case scenario, crypto miners could go bankrupt and the metals market could plummet if bitcoin keeps falling, Michael Burry said.

Crypto positions worth $853 million got wiped out within the last 24 hours.

The index serves as a crypto equivalent to Cboe's VIX, the so-called fear/panic gauge, which indicates the 30-day implied volatility of the S&P 500 and rises during market panics as traders bid up options prices to hedge against declines in the index.