Market Downturn Hits Cryptocurrencies Hard

In a significant downturn, Bitcoin has fallen below the $84,000 mark, reaching a new low for November 2024. This decline is part of a broader trend affecting major cryptocurrencies, with Ethereum also experiencing a sharp drop.

Recent Events Shake the Crypto World

The crypto market has been rattled by recent events, including a massive $1.5 billion theft from Bybit due to a security breach. Additionally, comments from U.S. President Donald Trump regarding global tariffs have further dampened enthusiasm for digital assets.

At 1:47 pm ET, Bitcoin was trading at $84,499 after a brief dip to $83,310, marking a 4.60% decrease. Ethereum wasn't spared, plummeting by 7.24% to $2,313.