--- title: What’s happening with crypto? - The Hustle description: At one point this week, bitcoin was 50% below its all-time high. Why is this happening? image: https://hs-sbup.thehustle.co/hubfs/The%20Hustle%20News/Assets/Images/1692417698-News-Brief_2022-01-27T011036.840Z-scaled.webp --- # What’s happening with crypto? ![Jacob Cohen](https://thehustle.co/wp-content/uploads/2021/01/IMG_5670-1-modified-768x768.png?width=48&height=48&name=IMG_5670-1-modified-768x768.png) [Jacob Cohen](https://hs-sbup.thehustle.co/author/jacob-cohen) [Jacob Cohen Twitter profile ](https://twitter.com/ImJacobCohen) Published: January 27, 2022 Updated: October 11, 2023 Crypto prices have declined for months. At one point this week, bitcoin was [50%](https://www.cnbc.com/2022/01/25/crypto-winter-investors-fear-bitcoin-has-further-to-drop.html) below its all-time high in November. So why is this happening? ![What’s happening with crypto?](https://hs-sbup.thehustle.co/hs-fs/hubfs/The%20Hustle%20News/Assets/Images/1692417698-News-Brief_2022-01-27T011036.840Z-scaled.webp?width=595&height=400&name=1692417698-News-Brief_2022-01-27T011036.840Z-scaled.webp) It’s likely a combo of reasons: - **We may be entering “crypto winter,” **which wouldn’t be unheard of. The last one took place in 2018 when bitcoin plunged [80%](https://www.cnbc.com/2018/11/26/bitcoin-nears-its-worst-ever-bear-market-down-more-than-80percent-from-the-high.html). - **Institutions: **As large investors have taken crypto positions, prices are increasingly impacted by traditional markets (which are also down). - **The Fed and regulators: **Traders fear the potential for interest rate hikes and crypto regulations is high. Side note: There are now [81.4k](https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html) crypto wallets containing $1m+ in bitcoin, and 7.1k containing $10m+. Topics: [Cryptocurrency](https://blog.hubspot.com/marketing/cryptocurrency) Topics: [Cryptocurrency](https://hs-sbup.thehustle.co/tag/cryptocurrency) [Money And Markets](https://hs-sbup.thehustle.co/tag/money-and-markets) ## Follow us on social media prev next - ![Brrring back the deals: Will the IPO and M&A markets warm up again?](https://hs-sbup.thehustle.co/hubfs/The%20Hustle%20News/Assets/Images/1202313201-httpsthdaily.s3.us-west-1.amazonaws.comfinal_size-Icy_market_20230731220127-2.webp) ### Brrring back the deals: Will the IPO and M&A markets warm up again? - ![How do we not know who Satoshi Nakamoto is?](https://hs-sbup.thehustle.co/hubfs/The%20Hustle%20News/Assets/Images/254575623-httpsthdaily.s3.us-west-1.amazonaws.comfinal_size-satoshi_20230705231801.webp) ### How do we not know who Satoshi Nakamoto is? - ![The Dow index got a makeover. 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