Bitcoin Plummets: CZ Declares ‘Back to Being Poor’ as Crypto Value Halves Since 2025 High

Binance founder Changpeng Zhao, known as CZ, signaled a return to financial hardship amid the ongoing cryptocurrency downturn, posting “Poor again” on social media this Thursday. The message echoes a similar post from January 2022, made as Bitcoin’s value plummeted from near $69,000 to around $30,000.

The recurrence of the phrase has drawn comparisons between the two periods, with analysts noting the parallels. However, CZ appended a note to his recent post, stating that “everything turned out well” after the 2022 episode, referencing the subsequent price increases.

The latest declaration of financial constraint comes as Bitcoin continues a months-long decline, hitting a low of $62,898 on Thursday – its lowest level in over a year. This represents a loss of more than half its value since reaching a historic high of $126,198 in October 2025.

The broader cryptocurrency market is experiencing significant turbulence. In November 2025 alone, the market lost over $1 trillion in value, pushing Bitcoin into what analysts define as a bear market – a decline of at least 20% from its record high. Bitcoin is currently down approximately 10% for the year and is on track for its first annual loss since 2022.

Several factors are contributing to the current market downturn. Analysts point to a correlation between cryptocurrencies and riskier growth stocks, particularly those in the artificial intelligence and technology sectors, which have also faced recent headwinds. The uncertainty surrounding the economic outlook and high valuations are playing a role.

Adding to the pressure, global interest rate uncertainty is prompting some corporate digital asset treasuries and large crypto holders, such as investment firm BlackRock, to move to cash. This selling pressure is exacerbating the decline.

The recent volatility was further fueled by concerns surrounding the Federal Reserve’s monetary policy. In mid-November 2025, Bitcoin and other cryptocurrencies were “pummeled” as traders reassessed the likelihood of interest rate cuts at the December meeting. The probability of a rate cut at that meeting had fallen to 51% from 69% a week prior, according to CME’s FedWatch tool.

This shift in expectations stemmed, in part, from concerns about the October unemployment rate data. Due to a disruption in the household survey, the government was only able to release the jobs portion of the employment report, leaving the unemployment rate unknown for that month. The Federal Reserve relies on this data to inform its interest rate decisions, and cautious statements from several Fed presidents further dampened expectations for imminent rate cuts.

The decline extends beyond Bitcoin. Ethereum also experienced a significant drop, falling 8% to $3,167 on November 13, 2025, its lowest value since July. Other major cryptocurrencies, including XRP, Solana, and BNB, also saw substantial losses.

The current situation echoes the crypto slump of 2022, but CZ’s recent comment suggests an expectation of eventual recovery. However, the factors driving the current downturn – including macroeconomic uncertainty, shifting monetary policy expectations, and large-scale selling – present a complex challenge for the market. The extent to which the market will mirror the recovery seen after 2022 remains to be seen.

The broader implications of this downturn are still unfolding. The loss of over $1 trillion in market value highlights the inherent volatility of the cryptocurrency market and the risks associated with investing in these assets. The impact on companies heavily invested in crypto, as well as on retail investors, will likely be felt in the coming months.