The great crypto crash of 2025 entered a new phase on Wednesday, as Bitcoin plunged to its lowest level in seven months, extending the more than $1 trillion wipeout across the digital‑asset world.The largest cryptocurrency fell to as low as $88,

Yet the market has retreated — fast, hard and with no clear trigger. Bitcoin’s total market value has plunged by about $600 billion from an October high, according to data compiled by Bloomberg. In crypto, volatility is expected. What’s different this time is how quickly conviction has evaporated, and how few explanations hold up.