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Bitcoin falls below $100,000 for the first time since late June
- Tuesday saw Bitcoin fall below $101,000 to a five-month low as investors appeared to pull away from riskier assets during a risk-off mood.
- The Federal Reserve's cautious stance on rate cuts weighed on markets, as Fed Chair Jerome Powell flagged uncertainty about a December cut and Fed Governor Lisa Cook remained undecided.
- Markets showed steep weekly losses across major tokens, with Bitcoin down 12.4%, Ethereum down 18%, XRP down 16.9%, BNB down 19.2%, Solana down 22.5%, and dogecoin down 21.6%.
- Data from CoinMarketCap show the crypto market cap fell from $4.21 trillion on Oct. 5 to $3.36 trillion on Tuesday, as Bitcoin dropped below $101,000 to a five-month low, indicating a broad decline over the last month.
- Investors cited concerns about AI stock valuations, leading to crypto sell-offs as Nasdaq futures fell 1.5% with Palantir dropping; Compass Point analyst Ed Engel said retail buyers showed less engagement.
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14 Articles
14 Articles
Bitcoin Sinks to Lowest Level Since June
Bitcoin fell to its lowest level since June, pressured by macroeconomic uncertainty and outflows from exchange-traded funds. The largest cryptocurrency traded as low as $102,902 on Tuesday after notching a record high of more than $126,000 last month. Analysts said the decline is partly driven by
·New York, United States
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Coverage Details
Total News Sources14
Leaning Left1Leaning Right0Center5Last UpdatedBias Distribution83% Center
Bias Distribution
- 83% of the sources are Center
83% Center
L 17%
C 83%
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