Bitcoin's decline intensifies, investors are worried about the arrival of a new "cryptocurrency winter."

The crash of cryptocurrency is intensifying. Bitcoin fell more than 6% on Monday, marking the largest single-day drop since March. In the New York market, as of 4 p.m. Eastern Time, the world's largest digital currency was trading at $85,468, down over 30% from its peak of over $126,000 set in early October. The sell-off has spread to other digital tokens such as Ethereum and Solana, dragging down stocks related to the cryptocurrency market, such as exchange operator Coinbase Global and Michael Saylor's Bitcoin hoarding company Strategy. Bitcoin and other digital tokens have been caught in a broad decline that is affecting high-risk trading across all markets. In recent months, unprofitable tech companies, speculative shell companies, and meme stocks have fallen out of favor. Patrick Horsman, Chief Investment Officer at cryptocurrency reserve company BNB Plus, says investors are reducing their risk exposure as they become more pessimistic about the market and the overall economy. "I think we could see Bitcoin fall back to $60,000," Horsman said, "we believe the pain is not over yet."