Republican congressional majorities, Nvidia’s leadership, and now Bitcoin? It’s all coming down!

Bitcoin’s price has fallen below $70,000 for the first time since August, and has been on a slow downward slide since late September, when it briefly touched more than $86,500.

As of Friday morning, BTC was trading as low as $68,070, before increasing to around $69,880.

Over the past five days, BTC values are down almost 7%, and the digital asset remains down more than 20% since the beginning of 2026.

As for what’s behind the most recent decline, it’s likely a combination of things, including concerns related to inflation and likely interest rate hikes, along with a decline in tech-sector stocks, which has been exacerbated by the bombshell scandal involving now-former Nvidia CEO Jensen Huang.

The latest CPI data

The most recent CPI report , for one, showed that inflation was up 0.4% month-over-month, and Friday morning’s PPI report showed that producer prices were up 6.5% year-over-year, the highest in…