Bitcoin Hits New Low

The cryptocurrency market witnessed a significant downturn on Wednesday, with Bitcoin's value dropping below the $84,000 mark, reaching a new low for November 2024.

Recent Events Impacting the Market

This decline follows a series of unsettling events in the crypto world, including a massive $1.5 billion security breach at Bybit last week. Additionally, President Donald Trump's recent comments on global tariffs have further dampened the enthusiasm for digital assets.

Market Reaction

Bitcoin briefly traded at $83,310 before experiencing a 4.60% drop, settling at $84,499 by 1:47 pm ET. Ethereum also saw a significant decrease, plummeting by 7.24% to $2,313.