US EditionBitcoin Rout Continues as the Cryptocurrency Falls to Lowest Level Since April: CNBC Crypto World
- $1 trillion in market value has been erased from the crypto market since early October, decreasing from $4.2 trillion to under $3.1 trillion.
- Bitcoin's trading price on Thursday was $88,129, which is down 30% from its October 6 high of $126,000.
- Approximately 42,000 BTC worth around $4 billion has been sold by long-term investors this month, alongside significant outflows from ETFs.
- Experts warn that without strong buying, the market might head lower, indicating ongoing fragility.
13 Articles
13 Articles
Bitcoin rout continues as the cryptocurrency falls to lowest level since April: CNBC Crypto World
On today's episode of CNBC Crypto World, major cryptocurrencies slump after stronger-than-expected September jobs data and better-than-expected earnings from Nvidia. Plus, Crypto World speaks with Ari Redbord of TRM Labs at the Clear Street Disruptive Technology Conference.
Bitcoin drops nearly 30% from its yearly peak, market cap wipes out $1 trillion in recent weeks
Bitcoin has dropped nearly 30% from its yearly high above $126,000, driving a crypto market slump that has erased over $1 trillion in value. On Thursday, it traded at $92,783. Over the past 24 hours, Bitcoin rose about 2%, while Ethereum slipped 0.41% to $3,051. Most major altcoins declined up to 2%, though Solana and Hyperliquid gained more than 3%.
Bitcoin fall prompts ‘crypto winter’ fears
The price of bitcoin fell below $90,000 on Wednesday, marking a 27% plunge from its October high and erasing the digital token’s gains for the year. Investors this week withdrew a record $523 million from BlackRock’s flagship bitcoin ETF, and the stock of pioneering digital asset firm Strategy tumbled further than bitcoin itself did over the same period, raising concerns of a “crypto winter.” The slide could imperil a slew of planned digital cur…
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