Bitcoin plunged below €75,000 on Monday as the cryptocurrency market continued its sharp post-October decline.
Cryptocurrencies started another losing month with Bitcoin falling more than 5% in early European trading.
After hitting about €110,000 in early October, Bitcoin entered a steep, prolonged drop driven by liquidations and heavy sell-offs.
In November, Bitcoin lost over 16% of its value, briefly approaching €74,000.
Ethereum and Solana also fell more than 5%, extending the downward trend that began in October.
Bitcoin attempted to stabilise last month, but rebounds lasted only briefly before prices resumed their decline.
Investors Avoid Risky Assets
Investors also sold other stocks in recent weeks as they moved toward safer positions.
Inflows into Bitcoin exchange-traded funds (ETFs) remained low despite market volatility.
ETFs combine stocks, bonds, commodities, or Bitcoin into a single tradable product.
Investors sell ETF shares when underlying asset prices fall, which reduces the ETF’s overall value.
Global market uncertainty and weaker economic signals drove traders to dump risky assets.
Traders reacted to fading hopes of early rate cuts from the US Federal Reserve and Bank of England.
Experts linked Bitcoin’s slump to aggressive trading strategies by professional investors.
Bitcoin Mirrors Tech Volatility
Investors hoped Bitcoin would behave like digital gold as a safe-haven asset.
Recent fluctuations show Bitcoin moves more like technology-related stocks than stable investments.
Nvidia, which produces highly demanded GPU chips, also surged this year but experienced similar sharp drops.
The pattern suggests that both cryptocurrencies and tech stocks share high volatility under global market pressure.
Analysts warn that Bitcoin’s unpredictable swings continue to challenge investors seeking reliable returns.
