Bitcoin Hits Lowest Since November 2024 Amid Market Turmoil

The cryptocurrency market took a significant hit on Monday, with Bitcoin's value dropping below $75,000 for the first time since the post-US election rally in November 2024.

Global Market Stress and Reciprocal Tariffs Take Their Toll

The downturn was part of a broader market stress, exacerbated by the US administration's recent implementation of reciprocal tariffs. This move has not only affected traditional markets but also sent shockwaves through the cryptocurrency sector.

Altcoins Suffer Significant Losses

Other major cryptocurrencies weren't spared either. Ripple's XRP saw a dramatic 20% drop, BNB fell by 9%, and Solana experienced a 17% decline, highlighting the widespread impact of the current market conditions.

Ethereum Outpaces Bitcoin in Losses

At 2:44 am ET, Bitcoin was down 4.32%, trading at $74,981.94. Meanwhile, Ethereum posted even steeper losses, falling 7.18% to $1,466.22, underscoring the volatile nature of the cryptocurrency market.