Bitcoin has crashed by 25% from its all-time high.

Bitcoin continues to decline during Asian trading, losing over a quarter of its record high reached less than six weeks ago. This decline is attributed to traders backing away from positions made following the inauguration of U.S. President Donald Trump.

According to Bloomberg, Bitcoin fell by 5.5% to $79,627 during trading in Singapore, reaching its lowest level since November 10. Notably, Ethereum (-7.3%), Solana (-7.1%), and XRP (-7.8%) also saw significant declines.

Bitcoin reached its record of $109,241 on January 20, the day of Trump's inauguration, but has since decreased due to concerns about his policies and the state of the U.S. economy.

Traders are currently waiting for specific actions from Trump regarding cryptocurrencies, including Bitcoin holdings.

Currently, traders are looking for the bottom to improve Bitcoin's price, with support at the $70,000 level, said Ruslan Lienha from the crypto platform YouHodler, referring to technical analysis.

President Trump has already taken several steps supporting cryptocurrency, including appointing crypto supporters to key positions and closing investigations into several crypto companies.