After hitting a new all-time high last month, Bitcoin is back down again and touched its lowest level in weeks Thursday morning as investors cashed out of the crypto ETFs.

CoinGecko data shows that the biggest cryptocurrency dropped below $92,000 per coin at 9am ET, hitting a 2025 low of $91,925. It's now up and is trading for about $93,700. Still, over a seven-day period, the asset is down by 3.5%.

Investors are pulling out of the American Bitcoin ETFs, which started were approved one year ago and trade on stock exchanges—and that substantial pullback is likely putting downwards pressure on the price of the asset itself.

On Wednesday, a total of $568.8 million left the funds—the most in one trading day since December 19.

The bearishness came after the Federal Reserve released its minutes from its December meeting, hinting that inflation may be stickier than expected under incoming President Donald Trump, and that interest rates may stay high.

Bitcoin and other cryptocurrencies tend to do well in a low interest rate environment, and have largely benefited from news that the Federal Reserve would lower borrowing costs.

Ethereum, too, is dropping in price: the second-biggest cryptocurrency was at one point trading for $3,216 on Thursday, similarly marking ETH's lowest price registered so far in 2025. It's now priced at $3,275 after recovering. Over 24 hours, it's actually up by 1.5% as of this writing—thanks to its jump back up—but over the week, it's down by more than 5%.

Investors also pulled $159 million out of the Ethereum ETFs on Wednesday. That's the largest amount in a single day since July, the month that the funds began trading, according to Farside data.

The Ethereum ETFs have not experienced the same level of popularity as their Bitcoin counterparts, and the coin has not reached new highs like the oldest cryptocurrency has. As of this writing, Ethereum remains nearly 33% off its peak price of $4,878 set back in 2021.

Bitcoin in December hit a new all-time high of over $108,000. It's now nearly 13% lower than that level.

Edited by Andrew Hayward