Bitcoin Hits New Low Amid Market Turbulence

In a surprising turn of events, Bitcoin, the world's leading cryptocurrency, has plummeted below the $84,000 mark, setting a new low for November 2024. This significant drop is part of a continuing downward trend that has left investors and crypto enthusiasts on edge.

Recent Events Fueling the Decline

The crypto market has been under pressure following a major security breach at Bybit, where $1.5 billion was stolen. Additionally, remarks by United States President Donald Trump regarding global tariffs have further dampened the appetite for digital assets, contributing to the market's instability.

Market Reaction

After briefly trading at $83,310, Bitcoin experienced a sharp decline, shedding 4.60% of its value to sell for $84,499 by 1:47 pm ET. Ethereum, another major cryptocurrency, also saw a significant drop, nosediving 7.24% to sell at $2,313.