Bitcoin Hits New Low Amid Market Turmoil

On Wednesday, the cryptocurrency market witnessed a significant downturn, with Bitcoin reaching a new low for November 2024. This decline comes in the wake of a major security breach at Bybit, where $1.5 billion was stolen, and amidst global economic uncertainties fueled by recent remarks from United States President Donald Trump regarding global tariffs.

Market Reactions and Future Outlook

Bitcoin briefly traded at $83,310 before experiencing a 4.60% drop to $84,499 by 1:47 pm ET. Ethereum wasn't spared either, nosediving by 7.24% to $2,313. These developments have left crypto enthusiasts and investors pondering the future stability and security of digital assets.