Bitcoin Once Collapses Around $90,000...For the first time since November.

Bitcoin, a virtual currency giant that was considered a beneficiary of Trump, has continued to weaken, falling below the $90,000 mark at one point.

On the U.S. cryptocurrency exchange Coinbase, the price per unit of Bitcoin was trading at $89,212 as of 9:35 a.m. ET, down 5.9% from 24 hours ago.

It is the first time in about two months that Bitcoin has fallen below the $90,000 mark since November 18 last year, and the price of Bitcoin has since crossed the $90,000 mark again.

Ethereum, the second-largest market cap, fell 7.3% to $3,031, with the $3,000 level collapsing at one point, while Ripple, the third-largest market cap, fell 1.49% to $2.48 and Solana and Dogecoin also fell 6.2% and 4.28%, respectively, to $177 and $0.32.

Bitcoin, which only crossed the $100,000 mark a week ago, weakened in December last year as U.S. jobs far exceeded expectations and bond rates rose.

Bitcoin prices are also rocking after speculation that the U.S. Federal Reserve will stop further rate cuts beyond slowing the pace of rate cuts as the labor market remains stronger than expected.

The U.S. economic media CNBC analyzed, "The dollar strengthened and pressured Bitcoin as bond yields surged due to more-than-expected jobs and concerns about Trump's tariffs increased."

"Investors who expected a cryptocurrency-friendly Congress and the White House could experience greater disruption in the first quarter than expected," it continued.