US EditionBitcoin Dips Below $85,000 in Crypto Currency Rout
Bitcoin declined 33% over eight weeks amid institutional selling, a hawkish Federal Reserve, and stalled crypto regulation, while related stocks and futures also dropped sharply.
- On Monday, Bitcoin slid more than 7% to below $85,000, extending a nearly two-month swoon and a 33% decline from its Oct. 6 record of $126,210.50.
- Deutsche Bank analysts attributed declines last week to institutional selling, profit-taking by long-term holders, a hawkish Federal Reserve and stalled crypto regulation.
- Stocks across the crypto industry dropped, with Coinbase Global down 4%, Robinhood Markets down 5.2%, Strategy tumbling 10.3%, Riot Platforms falling 5.4%, and a company holding 649,870 bitcoin worth about $55 billion at 11 a.m. ET Monday.
- Spot bitcoin ETFs experienced significant outflows as investors pulled $3.6 billion in November, while American Bitcoin fell 9.3% and gold futures rose almost 7%.
- Bitcoin futures are down nearly 24% in the past month, and analysts said the rout tests Bitcoin's portfolio integration and raises questions about a temporary correction or longer adjustment.
47 Articles
47 Articles
Boston Herald
The Associated Press Bitcoin and the companies linked to cryptocurrencies spread a fall of almost two months on Monday, following a larger mass sale in the market of technology companies that many consider overvalued. Bitcoin fell by 6.5% after having dropped almost 12% earlier in the day, stabilizing just above $85,000. The most traded cryptocurrencies have dropped by approximately 33% since it reached a record of $126,210.50 on October 6, acco…
Associated Press News
Bitcoin briefly dips below $85,000 in crypto rout
Bitcoin and companies tied to cryptocurrencies have extended a nearly two-month swoon, tracking with a broader market sell-off in technology companies that many see as overvalued.
After rising in November, Bitcoin fell sharply, signaling a new wave of selling and potential further declines in the cryptocurrency market, RBC-Ukraine reports, citing Bloomberg. Cryptocurrency markets began December with a sharp decline: Bitcoin fell 5-7% at its peak, falling below $85,000-$88,000. Ethereum also suffered significant losses, losing over 7%, falling to around $2,800-$2,900. Analysts attribute this to the overall rise in risk-off…
Bitcoin briefly slips below $85,000 amid broad crypto downturn - The New Nation
NN ONLINE: Bitcoin and cryptocurrency-linked firms deepened a nearly two-month decline on Monday, mirroring a wider sell-off in tech stocks that many analysts view as overpriced. Bitcoin dropped 5.6%—after tumbling nearly 12% earlier—ending the day just above $85,000. The world’s most heavily traded cryptocurrency has fallen about 33% since hitting a record high of $126,210.50 on Oct. 6, according to Coinbase. Its earlier surge from April had tr…
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