Market Turbulence Hits Cryptocurrency

On a tumultuous Wednesday, the cryptocurrency market witnessed a significant downturn, with Bitcoin reaching a new low for November 2024. This decline follows a series of unsettling events in the crypto world, including a massive security breach at Bybit, where $1.5 billion was stolen, and the impact of President Donald Trump's comments on global tariffs.

Bitcoin and Ethereum Prices Tumble

Bitcoin briefly traded at $83,310 before experiencing a 4.60% drop, settling at $84,499 by 1:47 pm ET. Ethereum wasn't spared either, with its price plummeting by 7.24% to $2,313. These movements underscore the volatile nature of the cryptocurrency market and the influence of global economic policies on digital assets.