The world’s largest cryptocurrency continues its worst decline since 2022, falling as much as 6.4% to $81,629 today.
In November alone, Bitcoin has dropped about 25% in value, bringing its total decline to 31% from its all-time high of roughly $126,000.
Today, Ether also experienced a decline falling as much as 7.6% to below $2,700.
In the past 24 hours, $2 billion in leveraged positions have been liquidated. According to crypto researchers at CoinGecko, today’s decline has brought the total market value of virtual coins below $3 trillion for the first time since April.
Cryptocurrencies have been steadily declining since October 10, when a major liquidation event led to a $19 billion loss in leveraged token positions and wiped out about $1.5 trillion from the total market capitalization.
Bitcoin’s decline is occurring despite efforts by a pro-crypto US administration and increasing institutional adoption.
By CEO NA Editorial Staff
