Bitcoin dropped sharply on Monday and fell below €75,000 as the wider crypto market extended its steep decline after the October peak.
Cryptocurrencies entered another month in the red as Bitcoin slid more than 5% in early European trading and moved under €75,000.
Bitcoin reached a record of about €110,000 in early October, then entered a long downturn as traders triggered major liquidations and sell-offs.
In November, Bitcoin lost over 16% of its value and briefly approached €74,000.
Other leading cryptocurrencies also declined on Monday, with Ethereum and Solana losing more than 5% and extending the downward trend that began in October.
Bitcoin displayed short periods of stability last month, but each rebound faded and prices resumed their fall.
Shifts in Investor Behaviour
Several stocks also dropped in recent weeks as investors adopted risk-averse strategies while inflows into Bitcoin exchange-traded funds remained low.
An ETF bundles assets like stocks, bonds, commodities, or Bitcoin into a single product.
Investors buy one ETF share to gain exposure to all assets the fund contains.
They often sell ETF shares when the prices of underlying assets fall, which drives down the ETF’s overall value.
Market uncertainty and fading investor appetite pushed the world’s largest cryptocurrency lower as traders abandoned riskier holdings amid weak economic signals and diminishing hopes for early rate cuts by central banks such as the US Federal Reserve and the Bank of England.
Experts also link the downturn to aggressive trading strategies used by professional investors.
Volatility Mirrors Tech Sector
Many traders hoped Bitcoin would behave like a safe-haven asset similar to digital gold, but its volatility shows closer ties to tech-related stocks.
Nvidia, which produces highly sought-after GPU chips, surged earlier this year and recently experienced similar sharp drops.
