Bitcoin Hits New Low Amid Market Challenges

In a surprising turn of events, Bitcoin, the world's leading cryptocurrency, has dropped below the $84,000 mark, reaching a new low for November 2024. This decline is part of a broader downward trend affecting major cryptocurrencies this Wednesday.

Recent Events Impacting the Crypto Market

The cryptocurrency market has been under pressure following last week's security breach at Bybit, where $1.5 billion was stolen, shaking the confidence of crypto enthusiasts worldwide. Additionally, remarks by United States President Donald Trump regarding global tariffs have further dampened the appetite for digital assets.

Market Reaction

Bitcoin briefly traded at $83,310 before shedding 4.60% of its value, selling for $84,499 at 1:47 pm ET. Ethereum also experienced a significant drop, nosediving 7.24% to sell at $2,313.