$1.6 billion in crypto bets wiped out as Bitcoin slips below $80,000 – investors turn to gold, silver

Bitcoin saw a sharp decline on Saturday afternoon in New York, sliding below the $80,000 mark for the first time since April 2025. The drop, according to Bloomberg, came as digital assets faced a massive selloff, with weak buying interest and thin trading volumes adding pressure on the market.

The world’s largest cryptocurrency plunged as much as 7.1% during midday trading, touching $78,159.41. The move deepened a long-running slide that has now wiped out more than 30% of Bitcoin’s value.