Bitcoin experienced a significant drop in value, losing about $300 billion and falling below $100,000 for the first time since June. This decline impacted other cryptocurrencies as well, with ether dropping to $3,100 and solana plummeting to $150. Crypto-related stocks like Coinbase and Robinhood also saw decreases during the week.

Last month, dubbed “Red October,” saw a crash in crypto prices, erasing year-to-date gains. The asset class was down 20% from its peak, trimming year-to-date gains to about 2.5%. Investors exited $19 billion worth of leveraged positions, causing a struggle for crypto to regain confidence.

Despite challenges, institutional investors could keep the market warm. Ripple raised $500 million in a funding round, and JPMorgan analysts predict bitcoin could hit $170,000 within a year. While digital assets are cooling off, it’s not necessarily the start of a full-blown crypto winter.

Read more at Yahoo Finance: Rough Week Erases Most of Crypto’s 2025 Gains