Bitcoin Hits New November 2024 Low

On Wednesday, the cryptocurrency market witnessed a significant downturn, with Bitcoin's value dropping below the $84,000 mark, setting a new low for November 2024. This decline is part of a continued downward trend affecting the world's largest cryptocurrencies.

Impact of Recent Events on Cryptocurrency Market

The recent security breach at Bybit, where $1.5 billion was stolen, has left the crypto community in shock. Additionally, remarks by United States President Donald Trump regarding global tariffs have likely contributed to the decreased appetite for digital assets among investors.

Current Market Status

After briefly trading at $83,310, Bitcoin experienced a 4.60% drop, selling for $84,499 at 1:47 pm ET. Ethereum also saw a significant decrease, nosediving 7.24% to sell at $2,313.