Bitcoin Hits New Low Amid Market Turmoil

The cryptocurrency market witnessed a significant downturn as Bitcoin's value dropped below the $84,000 mark, reaching a new low for November 2024. This decline continues the downward trend observed in recent days, shaking the confidence of investors worldwide.

Impact of Bybit Security Breach and Global Tariffs

The recent security breach at Bybit, where $1.5 billion was stolen, has left the crypto community in shock. Additionally, the remarks made by United States President Donald Trump regarding global tariffs have further dampened the enthusiasm for digital assets, contributing to the market's instability.

Market Reaction and Current Prices

At 1:47 pm ET, Bitcoin was trading at $84,499, after a brief dip to $83,310, marking a 4.60% decrease. Ethereum also experienced a significant drop, falling by 7.24% to $2,313, reflecting the widespread impact of the current market conditions on major cryptocurrencies.