Bitcoin has hit rock bottom, falling below the $90,000 mark for the first time since April. The sudden drop comes as investors are grappling with fears that the Federal Reserve will not cut interest rates further in December, sending shockwaves through the global economy.
As the price of the world's most valuable cryptocurrency plummeted late Monday night, it wiped out all its gains from the start of 2025. Bitcoin's value has dropped by a staggering 16% over the past month, with some traders predicting it could fall as low as $80,000 in the coming weeks.
The current slide is reminiscent of a similar downturn in April last year, when President Donald Trump unveiled his tariffs at the "Liberation Day" event. Back then, Bitcoin bottomed out just below $75,000.
However, this latest selloff has been triggered by a broader economic anxiety that has seen other major cryptocurrencies take a hit as well. Ether, the second most valuable cryptocurrency in the market, has fallen to below $3,000 - down over 5.6% in the past 24 hours. XRP, BNB and SOL are also down 3.9%, 3%, and 3.2% respectively.
Dogecoin, the largest memecoin in the crypto market, has slipped by more than 3.8% over the past 24 hours. The decline is a stark reminder that investors are on edge as they await news from the Federal Reserve on interest rate cuts next month.
Investors will be keeping a close eye on Bitcoin's price action as it navigates these uncertain times. One thing is clear: the market is on high alert, and only time will tell what's in store for the cryptocurrency landscape.
As the price of the world's most valuable cryptocurrency plummeted late Monday night, it wiped out all its gains from the start of 2025. Bitcoin's value has dropped by a staggering 16% over the past month, with some traders predicting it could fall as low as $80,000 in the coming weeks.
The current slide is reminiscent of a similar downturn in April last year, when President Donald Trump unveiled his tariffs at the "Liberation Day" event. Back then, Bitcoin bottomed out just below $75,000.
However, this latest selloff has been triggered by a broader economic anxiety that has seen other major cryptocurrencies take a hit as well. Ether, the second most valuable cryptocurrency in the market, has fallen to below $3,000 - down over 5.6% in the past 24 hours. XRP, BNB and SOL are also down 3.9%, 3%, and 3.2% respectively.
Dogecoin, the largest memecoin in the crypto market, has slipped by more than 3.8% over the past 24 hours. The decline is a stark reminder that investors are on edge as they await news from the Federal Reserve on interest rate cuts next month.
Investors will be keeping a close eye on Bitcoin's price action as it navigates these uncertain times. One thing is clear: the market is on high alert, and only time will tell what's in store for the cryptocurrency landscape.
. Bitcoin taking a hit like this isn't surprising though - we've seen similar downturns before 
. But with all these other cryptos falling too, it's clear that people are feeling anxious about the future 
.
. I mean, Bitcoin has been pretty volatile in the past, so you never know what's gonna happen next 
. As for me, I'll just be keeping an eye on it from afar - not trying to predict anything too much 
.
. Reminds me of that last April when trump dropped those tariffs and bitcoin went into a tailspin again. But this time, it's not just one crypto taking the hit, it's several major ones 
2024 was like a wild ride with all those crazy price swings 
and now it's just like everyone's waiting for the other shoe to drop 
i'm kinda surprised it didn't happen sooner tho? 
all these major coins taking a hit feels weird too 
It's like a rollercoaster ride! 
I drew a simple diagram to show what's going on:
. It's making me wonder if we're due for another crypto boom? 
. People are so worried about this and it's making me nervous 
. I'm trying to stay calm but my investments are getting a little volatile