Bitcoin price drops to $52k following US Treasury rumors
The leading cryptocurrency experienced its sharpest fall in months earlier today following rumors that the United States Treasury will charge financial institutions dealing with cryptocurrencies with money laundering.
BTC down by more than 10% in 24 hours
The cryptocurrency market is bleeding following massive losses sustained earlier today. The bearish trend began after Bitcoin lost its $60,000 support over the weekend and followed that by dropping from $59,000 to $52,000 in less than an hour.The massive loss led to the liquidation of positions worth over $10 billion from the market. Other leading cryptocurrencies such as Ethereum, Litecoin, Binance Coin, and XRP have all recorded massive losses in the past hour.
According to most analysts, two events caused the huge losses in the market. The first is the rumor from anonymous sources that the United States Treasury will charge unnamed financial institutions with crypto-related money laundering.
Although the news isn't confirmed, it sparked fear in the hearts of several investors and led to the liquidation of billions of dollars worth of positions. Binance sustained the most losses, with nearly $4 billion wiped over the past 24 hours.
No further details were given from the tweet by FXHedge, but it generated a lot of interest in the crypto space, getting more than 6,000 likes and nearly 5,000 retweets.
Xinjiang power failure leads to a massive loss in hash rate
The second reason for the heavy decline in Bitcoin's price is linked to the recent power failure in China's Xinjiang province. Xinjiang is home to a large number of the cryptocurrency's miners. The power outage began two days ago, and Bitcoin's hash rate which is used to measure the processing power of the network, is now down by over 40%.Charles Edwards tweeted about this, saying, "The Bitcoin Hash Rate is down 40% today, as a result of the Xinjiang blackout. One province in China represents a significant share of the Bitcoin network.
According to Bitcoin on-chain analyst Willy Woo, there is a correlation between Bitcoin's price and its hash rate. He cited that a similar event happened in 2017, and it affected the cryptocurrency's price. He tweeted that "Price and hash rate has always been correlated. This is BTC price vs. today's hash rate collapse (from the Xinjiang blackout)."
Bitcoin's price has slightly recovered and was trading close to $54,000 at the time of this report. It is unclear if the market will immediately bounce back from this recent loss.
Continue reading by joining Cryptonary Pro
$1,548 $997/year
Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.
For your security, all orders are processed on a secured server.
As a Cryptonary Pro subscriber, you also get:
24/7 access to experts with 50+ years’ experience Terms
All of our top token picks for 2025
On hand technical analysis on any token of your choice
Weekly livestreams & ask us anything with the team
Daily insights on Macro, Mechanics, and On-chain
Curated list of top upcoming airdrops (free money)
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut through the noise and consistently find winning assets.
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.
Frequently Asked Questions
Can I trust Cryptonary's calls?
Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.
Do I need to be an experienced trader or investor to benefit?
No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.
What makes Cryptonary different from free crypto content on YouTube or Twitter?
Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.
Why is there no trial or refund policy?
We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.
Do I get direct access to the Cryptonary team?
Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.
How often is content updated?
Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.
Recommended from Cryptonary
