Bitcoin Plummets, Crypto Market Loses $1T

Bitcoin plummets below ninety thousand dollars, marking its biggest one-day fall in a month, due to renewed risk aversion pushing investors away from digital assets. The cryptocurrency lost over eighteen thousand dollars in November, its largest dollar loss since May 2021. Analysts note a tight correlation with the stock market, suggesting a potential negative impact on stocks. Ether also dropped by six percent, losing twenty-two percent of its value in November. The crypto market has lost over one trillion dollars in value since its peak, with U.S.-listed exchange-traded funds backed by spot Bitcoin experiencing record outflows of three point four three billion dollars in November. The Daily News Now! - Every city. Every story. AI Powered. Hosted on Acast. See acast.com/privacy for more information.