News Summary

Bitcoin has experienced its largest monthly decline since June 2022, dropping by 17.5% in February. This decline marks its entry into a bear market, driven by a wave of negative sentiment in financial markets. The initial excitement around cryptocurrencies following Donald Trump’s election win has waned, contributing to the decline. The market was further shaken by a cyber-attack on the Bybit exchange, where $1.5 billion of digital assets were stolen. Despite the drop, Bitcoin has shown resilience in the past, recovering from significant declines. Trump’s announcement of a Crypto Strategic Reserve that includes Bitcoin and Ethereum sparked some recovery, driving Bitcoin back up to $94,000.