Bitcoin price briefly plunges on Revolut app

Some Revolut users saw Bitcoin prices crash to as low as 2 cents on Friday before quickly recovering. The incident appeared isolated to the platform and did not affect major exchanges.

Revolut users reported seeing bitcoin prices plunge far below market levels on Friday. Screenshots showed values dropping to around 2 cents or $39,900 before snapping back to near £58,600 on the app's charts. The anomaly occurred during Asian afternoon hours when bitcoin traded just over $79,000 on global markets tracked by CoinGecko and CoinMarketCap.

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Illustration of Bitcoin price rebounding above 65,000 amid falling oil prices.
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Bitcoin rebounds above $65,000 amid falling oil prices

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Bitcoin climbed back above $65,000 on June 22 after touching lows near $63,000, supported by a sharp drop in crude oil prices.

US consumer prices rose more than expected in April, sending stocks lower and pushing bitcoin briefly under the key $80,000 level before a modest recovery. The data reinforced bets that the Federal Reserve will hold rates steady.

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Bitcoin dropped to its lowest level since late March, trading near $65,000 as selling pressure intensified. The decline coincided with rising oil prices and weakness in U.S. stocks following Middle East developments. Ethereum also fell sharply, testing support near $1,800.

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