Bitcoin has fallen some 30% from its peak in early October. Justin Tallis/AFP/Getty Images New York —

Even by crypto standards , it’s been a rough few weeks.

Investors in digital assets are accustomed to extreme volatility, but a $1 trillion wipeout over the past six weeks has tested even crypto’s diehard believers and alienated many of its newest converts.

Bitcoin, the industry bellwether, has fallen dramatically since early October, when it hit a record high of $126,000. The world’s most popular cryptocurrency dipped below $81,000 on Friday before recovering slightly over the weekend. On Monday, as the broader stock market rallied, bitcoin topped $88,000, rising nearly 2% over a 24-hour period. (Crypto markets are open 24 hours a day, seven days a week.)

It is shaping up to

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