Bitcoin fell sharply on Monday and dropped below €75,000 as the wider crypto market extended its steep decline.
Cryptocurrencies entered another losing month as Bitcoin slid more than 5% in early European trading.
After reaching a record high near €110,000 in early October, Bitcoin began a long downturn driven by heavy liquidations and sell-offs.
In November, Bitcoin lost more than 16% of its value and briefly approached €74,000.
Other major tokens also fell on Monday, with Ethereum and Solana each dropping over 5% and continuing October’s downward trend.
Bitcoin showed brief attempts to stabilise last month, but each rebound faded and prices resumed their slide.
Investors Shift Away from Risk
Many stocks have also fallen in recent weeks as investors return to risk-averse behaviour and inflows into Bitcoin ETFs remain low.
An ETF groups assets such as stocks, bonds, commodities, or Bitcoin into a single product that investors can buy.
ETF holders sell shares when one or more underlying assets drop, pushing the ETF’s price lower.
Global market uncertainty and weaker economic signals have dragged down the world’s largest cryptocurrency.
Traders also dumped riskier assets as hopes for early rate cuts by major central banks faded.
Experts link the slump partly to aggressive trading strategies used by professional investors.
Tech-Linked Volatility Returns
Many investors hoped Bitcoin would behave more like a safe-haven asset similar to digital gold.
Its recent swings show that Bitcoin instead behaves more like other tech-related stocks.
Nvidia surged this year yet experienced similarly sharp declines, reflecting the same volatility seen in Bitcoin.
