US EditionBitcoin falls below $100,000 for the first time since late June
- Tuesday saw Bitcoin fall below $101,000 to a five-month low as investors appeared to pull away from riskier assets during a risk-off mood.
- The Federal Reserve's cautious stance on rate cuts weighed on markets, as Fed Chair Jerome Powell flagged uncertainty about a December cut and Fed Governor Lisa Cook remained undecided.
- Markets showed steep weekly losses across major tokens, with Bitcoin down 12.4%, Ethereum down 18%, XRP down 16.9%, BNB down 19.2%, Solana down 22.5%, and dogecoin down 21.6%.
- Data from CoinMarketCap show the crypto market cap fell from $4.21 trillion on Oct. 5 to $3.36 trillion on Tuesday, as Bitcoin dropped below $101,000 to a five-month low, indicating a broad decline over the last month.
- Investors cited concerns about AI stock valuations, leading to crypto sell-offs as Nasdaq futures fell 1.5% with Palantir dropping; Compass Point analyst Ed Engel said retail buyers showed less engagement.
51 Articles
51 Articles
Bitcoin falls below $100,000 for the first time since June as risk-off mood weighs on crypto
Bitcoin has erased its summer rally, dropping over 20% from last months record and falling below $100,000 for the first time since June. A steep wave of October liquidations drained bullish positions, leaving traders sidelined and futures open interest depressed. Ether and altcoins also tumbled sharply, with many tokens down over 50% this year, as Bitcoin underperforms equities and loses its hedge appeal.
The cryptocurrencies are in free fall! The Bitcoin erased the summer rises, yielding the gains accumulated during the euphoric reception of Wall Street and the increase in institutional purchases. The token fell to 6.5 percent on Tuesday in New York, to be quoted at $99 thousand 963, the first time it is located below $100 thousand dollars since June. This means a decrease of more than 20 percent from the historical peak reached a month ago of $…
The cryptocurrency drilled the psychological level for the first time since June, amid sales of large forks, technical downside signals and an adverse global climate for risk assets
The main cryptocurrency dropped by 6% and drilled that flat on Tuesday. How did the other cryptos go?Uncertainty about securities and doubts about what the Federal Reserve will do.
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