Bitcoin dropped sharply on Monday and fell below €75,000 as the wider crypto market extended a steep decline that started after its October peak.
Cryptocurrencies opened another losing month as Bitcoin slid more than 5% in European trading and moved under €75,000.
The coin reached about €110,000 in early October before it began a long downward trend fueled by heavy liquidations and broad sell-offs.
Bitcoin lost more than 16% of its value in November and even moved toward €74,000 at one point.
Ethereum and Solana also shed over 5% on Monday and continued the downward movement that began in October.
Bitcoin briefly showed signs of stability last month, but each rebound faded quickly and prices resumed their fall.
Investors Pull Back From Risk
Other stocks also declined in recent weeks as investors adopted risk-averse strategies while inflows into Bitcoin exchange-traded funds remained low.
An ETF groups assets such as stocks, bonds, commodities, or Bitcoin into one product.
Investors buy a single share to gain exposure to every asset in the fund.
They often sell ETF shares when the price of one or more underlying assets drops, which then affects the value of the entire fund.
Global uncertainty and weaker economic signals dragged down the world’s largest cryptocurrency as traders abandoned riskier assets.
Fading expectations of early rate cuts by central banks like the US Federal Reserve and the Bank of England also fueled the retreat.
Experts link the slump to aggressive trading tactics used by professional investors.
Tech-Linked Volatility Shapes Bitcoin
Many hoped Bitcoin would act like a safe-haven asset similar to digital gold, but its volatility shows stronger links to tech-oriented stocks.
Nvidia, which produces highly sought-after GPU chips, climbed sharply this year and then saw similarly steep declines.
