Cryptocurrency losses deepen as Bitcoin drops 9%, Ethereum 11%
Major cryptocurrencies plunged sharply, with Bitcoin falling 9% to $62,000 and Ethereum down 11%, amid rising sell-offs and investor caution.
Key Takeaways
AILosses in the cryptocurrency market deepened as leading digital currencies faced a sharp downturn, with Bitcoin dropping 9% to reach $62,000 amid mounting selling pressure and growing investor aversion to high-risk assets.
The decline extended to other major cryptocurrencies, as Ethereum fell by 11% and Solana recorded an even steeper drop of 15%, signaling widening losses across the digital asset market.
Bitcoin has now lost more than 20% since late October, heading for its sixth consecutive week of declines as pressures on the cryptocurrency market intensify.
The world’s largest digital currency reached its lowest level since August at around $62,000 amid continued outflows of investments from crypto-linked exchange-traded funds, increased forced liquidations, and waning investor appetite for high-risk assets.