Bitcoin Hits New November Low

In a dramatic turn of events, the world's leading cryptocurrency, Bitcoin, has plunged below the $84,000 mark, reaching a new low for November 2024. This downturn is part of a broader decline in the cryptocurrency market, which has been reeling from recent shocks.

Market Shaken by Bybit Security Breach

The cryptocurrency community was left in shock last week following a massive security breach at Bybit, where $1.5 billion was stolen. This incident has raised serious concerns about the security of digital assets and has contributed to the market's instability.

Trump's Tariff Remarks Add to Market Woes

Adding to the market's challenges, remarks by United States President Donald Trump about imposing global tariffs have likely dampened investor enthusiasm for digital assets. The uncertainty surrounding these potential tariffs has made investors wary, further impacting the cryptocurrency market's performance.

At 1:47 pm ET, Bitcoin was trading at $84,499, marking a 4.60% drop from its earlier position. Similarly, Ethereum experienced a significant decline, plummeting 7.24% to $2,313.