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.
The cryptocurrency market experienced a significant downturn, with major digital currencies witnessing sharp declines. Bitcoin experienced a 9% decrease, falling to $62,000, while Ethereum suffered an 11% drop. This negative trend extended to other prominent cryptocurrencies, including Solana, which plummeted by an even more alarming 15%.
The collective losses in the digital asset sector underscore the growing investor caution and mounting sell-offs. Bitcoin has now plummeted over 20% since late October, marking its sixth consecutive week of decline. The downward pressure on the cryptocurrency market intensifies, driven by outflows from crypto-linked exchange-traded funds, forced liquidations, and a waning appetite for high-risk assets.
Written by urgent.news from Ajel English's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
